AM Best Withdraws Credit Ratings of The Group Insurance Trust of the California Society of Certified Public Accountants

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of The Group Insurance Trust of the California Society of Certified Public Accountants (CalCPA Health) (San Mateo, CA). The outlook of these Credit Ratings (ratings) is stable. Concurrently, AM Best has withdrawn these ratings as the company has requested to no longer participate in AM Best’s interactive rating process.

The ratings reflect CalCPA Health’s balance sheet strength, which AM Best assesses as very strong as well as its marginal operating performance, very limited business profile and appropriate enterprise risk management (ERM).

CalCPA Health’s balance sheet strength metrics weakened due to a material deterioration in its equity position resulting from operating losses through the end of 2025. CalCPA Health has taken steps to mitigate the unfavorable operating results trends through strategic rate initiatives for 2026, and operating results have shown improvement through the first quarter of 2026 with a reported positive operating gain.

The stable outlooks reflect AM Best’s expectation that CalCPA Health will continue to maintain its very strong balance sheet strength supported by risk-adjusted capitalization at the very strong level, as measured by Best’s Capital Adequacy Ratio (BCAR).

CalCPA Health’s business profile remains very limited due to its strategy of marketing to a specific professional organization. The company sells to firms that are members of the California Society of Certified Public Accountants, which creates geographic and business concentration risks. CalCPA Health provides core employee benefit services, including medical, dental, vision care and pharmacy. AM Best assesses CalCPA Health’s ERM as appropriate, supported by a comprehensive risk management framework.

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.

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