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 Indigo Risk Retention Group Inc. (Indigo RRG) (Charleston, SC). The outlook assigned to these Credit Ratings (ratings) is stable. Indigo RRG is a newly added member of the Concert Insurance Group (Concert).
The ratings reflect Indigo RRG’s inclusion as a member of Concert, with a consolidated balance sheet strength that AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
Indigo RRG’s inclusion as a member of Concert is based on initial capitalization of Indigo RRG via a surplus note funded by Concert’s parent, Concert Group Holdings, Inc. In addition, the company entered into a quota share reinsurance agreement with Concert Specialty Insurance Company. Indigo RRG benefits from Concert’s sponsorship and support, which in addition to reinsurance and initial capital, includes board oversight.
Indigo RRG is a new risk retention group that underwrites medical professional liability (MPL) insurance for individual physicians and physician groups. Concert is a specialty insurance group that specializes in fronting insurance programs and providing a wide range of coverage, which includes MPL.
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