AM Best has affirmed the financial strength rating of A- (Excellent) and the long-term issuer Credit Rating of “a-” (Excellent) of Quanta Insurance Company (QIC).
The outlook of these ratings is stable.
AM Best says the ratings reflect QIC’s balance sheet strength, which it assesses as ‘very strong’, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
Headquartered in Houston, Texas, QIC is a single parent captive of Quanta Services, a specialised contracting services company. Quanta Services delivers infrastructure solutions for the utility, communications, pipeline and energy industries.
QIC writes, on a direct basis, workers’ compensation, commercial auto and general liability coverages to its parent and affiliated entities on an occurrence basis.
QIC’s captive orientation affords the company with ready access to business, and benefits from its parent’s extensive training, fleet management, loss control initiatives and workplace safety, according to AM Best.
