A.M. Best has affirmed financial strength rating of “A++ (Superior)” and long-term issuer credit rating of “aa+” of the members of MedPro Group.
The ratings apply to The Medical Protective Company, its affiliates Princeton Insurance Company, PLICO, Commercial Casualty Insurance and Atlanta International Insurance Company, as well as its two reinsured affiliates, MedPro RRG Risk Retention Group and AttPro RRG Reciprocal Risk Retention Group.
According to A.M. Best, the ratings reflect MedPro’s excellent balance sheet strength, long-term operating performance, and the significant market position it maintains in the medical professional liability sector.
The ratings benefit from the explicit and implicit financial support provided by the ultimate parent, Berkshire Hathaway, including reinsurance programmes, investment opportunities and capital support.
The ratings agency suggested that partially offsetting these ratings are the challenges involved with being a mono-line medical professional liability insurer.
