AM Best Assigns Credit Ratings to Fidelity Security Assurance Company

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Fidelity Security Assurance Company (Fidelity Assurance) (Kansas City, MO). The outlook assigned to these Credit Ratings (ratings) is stable.

The ratings reflect Fidelity Assurance’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile, appropriate enterprise risk management, and one notch of lift.

Fidelity Assurance is a property/casualty (P/C) professional liability insurance company with a program for educators. The company grew out of a desire for increased synergies and diversification with its affiliated company, Fidelity Security Life Insurance Company and Forrest T. Jones Co./FTJ Consulting Co, which is a national third-party administrator and broker. The company is expected to have modest growth as it executes its plan including exploring other ancillary P/C lines of business with similar synergies. Fidelity Assurance is expected to rely on its parent for services as it expands its business profile and future reinsurance. Additionally, it is expected that the parent company will aid in maintaining Fidelity Assurance’s risk-adjusted capital if needed.

This press release relates to Credit Ratings that have been published on AM 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 see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

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