A.M. Best Upgrades Ratings For Companion Property & Casualty Insurance Group

Columbia, SC - Companion Property & Casualty Insurance Group announced recently that its financial strength rating (FSR) from A.M. Best Co. has been upgraded from an A- (Excellent) to an A (Excellent), reflecting Companion Property & Casualtys financial strength and sound business practices.

A.M. Best also raised Companion Property & Casualtys issuer credit ratings (ICR) from an a- to an a. The companys rating outlook was revised from positive to stable.

A.M. Best said the improved ratings reflect Companion Property & Casualtys solid capitalization, improved underwriting and operating performance, more favorable reserve development trends as well as prudently managed geographic and product diversification initiatives through its fee for service business. The rating also recognizes the significant financial support and flexibility provided by its parent, BlueCross BlueShield of South Carolina, which has contributed substantial amounts of capital in recent years in support of premium growth and expansion initiatives.

This is great news that will have a tremendous impact on our business, said Charles Potok, president of Companion Property & Casualty. An A rating puts Companion at the top of our industry and opens even more doors of opportunity for us. I am proud of everyone in our organization for the enormous effort and dedication that led to this upgrade.

SOURCE: Companion Property & Casualty Insurance Group