AM Best Revises Outlooks to Positive for ALPS Property & Casualty Insurance Company

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of ALPS Property & Casualty Insurance Company (ALPS) (Missoula, MT).

The Credit Ratings (ratings) reflect ALPS’ balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).

The revised outlooks to positive reflect enhancement to ALPS’ business profile as a result of management’s focus on data analytics and pricing sophistication, including its risk management algorithm and straight-through processing applications, which enable the company to better manage and price risk while maintaining a scalable expense structure, contributing to profitable growth. Through these efforts, the company is leveraging technology to improve operating results and the customer experience. In addition, geographic diversification has improved through slow and controlled growth within ALPS’ niche market providing legal professional liability for smaller-sized firms.

AM Best expects ALPS’ balance sheet strength to remain very strong, supported by the strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR). ALPS’ adequate operating performance has benefited from management’s strategic initiatives focused on rate adequacy and prudent reserving philosophy. AM Best considers the company’s ERM framework and risk management capabilities appropriate for its risk profile.

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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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