Ategrity’s outlook restored to stable: A.M. Best
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A.M. Best Co. restored the outlook for Ategrity Specialty Holdings LLC and its affiliate back to stable from negative, citing its balance sheet strength, the rating agency said Wednesday.
Best lowered its outlook for the Scottsdale, Arizona-based excess and surplus lines insurer, and its Bermuda affiliate, Sequentis Reinsurance Co. Ltd., in 2021, citing concern over underwriting volatility.
In restoring the outlooks to stable, the credit rating agency said its ratings reflect Ategrity’s very strong balance sheet strength, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
It said the change “reflects Ategrity management’s ability to execute on its strategy focused on reducing underwriting volatility and improving underwriting profitability by limiting exposure to property catastrophe lines of business.”
Best affirmed Ategrity and Sequentis’ A-(Excellent) financial strength ratings.
The company did not respond to a request for comment.
