A.M. Best Assigns Ratings to MountainPoint Insurance Company

OLDWICK, N.J.--()--A.M. Best has assigned a financial strength rating of A- (Excellent) and an issuer credit rating of “a-” to MountainPoint Insurance Company (Phoenix, AZ), following the Arizona Department of Insurance’s approval of the 100% quota share reinsurance agreement between this shell company and its parent, CopperPoint Mutual Insurance Company (CopperPoint Mutual). The outlook assigned to both ratings is stable.

CopperPoint Mutual and its subsidiaries’ ratings were affirmed in November 2014, mainly based on the group's strong risk-adjusted capitalization, improving underwriting performance and position within the Arizona workers' compensation marketplace. The ratings of CopperPoint Mutual and its other subsidiaries remain unchanged.

The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.

Key insurance criteria reports utilized:

• Rating Members of Insurance Groups

• Risk Management and the Rating Process for Insurance Companies

This press release relates to rating(s) that have been published on A.M. Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please visit A.M. Best’s Ratings & Criteria Center.

A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2015 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

Contacts

A.M. Best Company
Darian Ryan, CPA, 908-439-2200, ext. 5449
Senior Financial Analyst
darian.ryan@ambest.com
or
Michael Lagomarsino, CFA, 908-439-2200, ext. 5810
Assistant Vice President
michael.lagomarsino@ambest.com
or
Christopher Sharkey, 908-439-2200, ext. 5159
Manager, Public Relations
christopher.sharkey@ambest.com
or
Jim Peavy, 908-439-2200, ext. 5644
Assistant Vice President, Public Relations
james.peavy@ambest.com

Contacts

A.M. Best Company
Darian Ryan, CPA, 908-439-2200, ext. 5449
Senior Financial Analyst
darian.ryan@ambest.com
or
Michael Lagomarsino, CFA, 908-439-2200, ext. 5810
Assistant Vice President
michael.lagomarsino@ambest.com
or
Christopher Sharkey, 908-439-2200, ext. 5159
Manager, Public Relations
christopher.sharkey@ambest.com
or
Jim Peavy, 908-439-2200, ext. 5644
Assistant Vice President, Public Relations
james.peavy@ambest.com