A.M. Best Assigns Ratings to Radnor Specialty Insurance Company
June 19 2015 - 10:38AM
Business Wire
A.M. Best has assigned a financial strength rating of A-
(Excellent) and an issuer credit rating of “a-” to Radnor
Specialty Insurance Company (Radnor Specialty) (Wayne, PA). The
outlook assigned to both ratings is stable.
The ratings reflect Radnor Specialty’s favorable level of
risk-adjusted capitalization, as measured by Best’s Capital
Adequacy Ratio (BCAR), the experience of the management team and
its targeted business plan. Furthermore, these ratings benefit from
the support Radnor Specialty will receive from an affiliated
company, United States Liability Insurance Company (USLI)
and its ultimate parent, Berkshire Hathaway Inc. (Berkshire)
[NYSE: BRK.A and BRK.B]. Partially offsetting these positive rating
factors are the inherent concerns with the company’s profile as a
start-up company with regard to marketing, pricing, reserving, loss
experience and growth potential.
A.M. Best believes the rating is appropriately placed at this
time. The rating could be upgraded after the initial development
period through better than expected underwriting performance,
stronger than planned overall operating income, or significant
gains in risk-adjusted capital position. The rating could be
impacted negatively from growth outpacing risk-adjusted capital or
operational structure, less than optimal loss experience or failure
to reach sustainable levels of premium.
Radnor Specialty is a wholly owned subsidiary of Mount Vernon
Specialty Insurance Company (MVSI) (Wayne, PA). These two
companies are positioned under the Devon Park Specialty Insurance
business unit.
This press release relates to rating(s) that have been
published on A.M. Best's website. For all rating information
relating to the release and pertinent disclosures, including
details of the office responsible for issuing each of the
individual ratings referenced in this release, please visit A.M.
Best’s Ratings & Criteria Center.
A.M. Best Company is the world's oldest and most
authoritative insurance rating and information source. For more
information, visit www.ambest.com.
Copyright © 2015 by A.M. Best Company,
Inc. ALL RIGHTS RESERVED.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150619005595/en/
A.M. Best CompanyRobert RaberSenior Financial
Analyst(908) 439-2200, ext.
5696robert.raber@ambest.comorHenry Witmer, CPCU,
ARM-EAssistant Vice President(908) 439-2200, ext.
5097henry.witmer@ambest.comorChristopher
SharkeyManager, Public Relations(908) 439-2200, ext.
5159christopher.sharkey@ambest.comorJim
PeavyAssistant Vice President, Public Relations(908)
439-2200, ext. 5644james.peavy@ambest.com
Berkshire Hathaway (NYSE:BRKA)
Historical Stock Chart
From Mar 2024 to Apr 2024
Berkshire Hathaway (NYSE:BRKA)
Historical Stock Chart
From Apr 2023 to Apr 2024