A.M. Best has affirmed the financial strength rating of “A- (Excellent)” and issuer credit rating of “a-“ and revised the outlook to stable from negative for ALPS Property & Casualty Insurance Company dba Attorneys Liability Protection Society.
ALPS ratings reflect its good risk-adjusted capital position, high policyholder retention, established relationships with various state bar associations and its geographic spread of risk.
“Partially offsetting these positive ratings factors are ALPS’ concentration risk being a one-line writer, its fluctuating underwriting results, which include sizeable losses in 2009 and 2011, variability in surplus levels, high common stock leverage and volatility in operating performance,” said A.M. Best.
