A.M. Best has assigned a financial strength rating of A- (Excellent) and a long-term issuer credit rating of “a-” (Excellent) to Quanta Insurance Company (QIC), based in Texas. The outlook assigned to these credit ratings is stable. The ratings reflect QIC’s balance sheet strength, which A.M. Best assessed as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. QIC is a single-parent captive of Quanta Services, a leading specialised contracting services company, delivering comprehensive infrastructure solutions for the utility, communications, pipeline and energy industries. The captive was domiciled in Texas in 2017 and writes, on a direct basis, workers’ compensation, commercial auto and general liability coverages to its parent and affiliated entities on an occurrence basis. A.M. Best explains that QIC’s captive orientation not only affords the company with ready access to business, but it also benefits from its parent’s extensive training, fleet management, loss control initiatives and workplace safety.
