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 California Casualty Compensation Insurance Company (CCCIC) (San Mateo, CA). The outlook of these Credit Ratings (ratings) is stable. Concurrently, AM Best has withdrawn the Credit Ratings (ratings) as the company has requested to no longer participate in AM Best’s interactive rating process.
The ratings reflect CCCIC’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.
The stable outlook reflects AM Best’s expectation that CCCIC will maintain its overall balance sheet strength assessment, supported by risk-adjusted capitalization at the strongest level, as measured by Best’s Capital Adequacy Ratio, amid its run-off status.
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