OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best has removed from under review with positive implications and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-“ of California Casualty Compensation Insurance Company (CCCIC) (San Mateo, CA). The outlook assigned to these Credit Ratings (ratings) is stable.
The ratings were placed under review with positive implications on Oct. 13, 2017, following the release of the updated Best’s Credit Rating Methodology (BCRM). The current rating actions follow the completion of A.M. Best’s analysis of CCCIC under the updated BCRM.
The ratings reflect CCCIC’s balance sheet strength, which A.M. Best categorizes as very strong, as well as its marginal operating performance, very limited business profile and appropriate enterprise risk management.
The rating actions reflect CCCIC’s more-than-supportive level of risk-adjusted capitalization and sound liquidity position, given its run-off status. These positive rating attributes are offset partially by variability in loss reserve development trends and the general constrictions on the business profile of a company in a run-off state.
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