OLDWICK, N.J.–(BUSINESS WIRE)–AM Greatest has affirmed the Monetary Power Score of A+ (Superior) and the Lengthy-Time period Issuer Credit score Score of “aa-” (Superior) of Central States Indemnity Co. of Omaha (CSI), and its subsidiary, CSI Life Insurance coverage Firm (CSI Life). The outlook of the Credit score Rankings (score) is steady. Each firms are domiciled in Omaha, NE.
The scores mirror CSI and CSI Life’s stability sheet energy, which AM Greatest assesses as strongest, in addition to their satisfactory working efficiency, restricted enterprise profile and applicable enterprise danger administration.
Moreover, CSI and CSI Life profit from very conservative underwriting leverage, a robust liquidity place and the implicit assist from their final mum or dad, Berkshire Hathaway Inc. (Berkshire) [NYSE: BRK A and BRK B]. CSI is a specialty insurance coverage firm that gives bank card credit score insurance coverage and has fronting agreements with a number of insurers.
These constructive score components are offset by CSI’s elevated frequent inventory leverage. CSI at the moment writes extra non-credit insurance coverage premiums on a gross foundation in contrast with its long-standing credit score insurance coverage enterprise. The overwhelming majority of gross premiums written are associated to long-term fronting preparations.
The score affirmations of CSI Life mirror its synergies with CSI. The scores additionally mirror CSI Life’s strongest degree of risk-adjusted capitalization, as measured by Greatest’s Capital Adequacy Ratio (BCAR), and the express assist offered by its mum or dad, CSI, in addition to the implicit assist from its final mum or dad, Berkshire. Offsetting score components embody CSI Life’s restricted enterprise profile and lack of product diversification.
This press launch pertains to Credit score Rankings which have been revealed on AM Greatest’s web site. For all score info referring to the discharge and pertinent disclosures, together with particulars of the workplace liable for issuing every of the person scores referenced on this launch, please see AM Greatest’s Current Score Exercise net web page. For added info relating to the use and limitations of Credit score Score opinions, please view Information to Greatest’s Credit score Rankings. For info on the right use of Greatest’s Credit score Rankings, Greatest’s Efficiency Assessments, Greatest’s Preliminary Credit score Assessments and AM Greatest press releases, please view Information to Correct Use of Greatest’s Rankings & Assessments.
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