Connecticut captive rated A+
The Farm Credit System Association captive insurance company (FSAC) in Connecticut has achieved a financial strength rating of A (Excellent) and issuer credit rating of a+ by A.M. Best, with the outlook for both ratings stable.
“The ratings reflect FCSAC's excellent capitalization, profitable operating results, strong liquidity measures and conservative operating strategy. The company's strong return measures are due to profitable underwriting results and generally consistent levels of investment income,” said a statement from A.M. Best.
Partly counterweighing positive factors is weather-related risk, although FCSAC has not yet suffered significant weather-related losses.