A.M. Best has assigned a financial strength rating of “A- (Excellent)” and an issuer credit rating of “a-” to MedChoice Risk Retention Group and Physicians Insurance A Mutual Company, the two companies that comprise Physicians Insurance Mutual Group.
According to A.M. Best, the affirmations of the companies are based on its strong risk-adjusted capilisation and profitable operating performance.
The ratings assigned to MedChoice Risk Retention Group take into consideration the challenges associated with it being a start-up insurer, offset by its strong alliance with Physicians Insurance A Mutual Company.
A.M. Best suggested that the group could earn a positive rating if it sustains a favourable earnings trend and strengthened capital.
