AM Best Assigns Credit Ratings to Capstone Specialty Insurance 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 Capstone Specialty Insurance Company (Capstone) (Beford, TX). The outlook assigned to these Credit Ratings (ratings) is stable.

The ratings assigned to Capstone reflect its recent inclusion in the existing pooling agreement of State National Group (State National), a unit of Markel Group Inc., effective Jan. 1, 2026. The ratings reflect State National’s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.

Capstone will provide property/casualty coverages on an excess and surplus lines basis in support of State National’s agents. As a result of the company’s inclusion in the State National pooling agreement, its operating performance and financial strength reflects that of the pool as a whole.

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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