AM Best Assigns Credit Ratings to MIEC Mutual Risk Retention Group

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent) to MIEC Mutual Risk Retention Group (MIEC Mutual). The outlook assigned to these Credit Ratings (ratings) is stable. Concurrently, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICR of “a-” (Excellent) of Medical Insurance Exchange of California (MIEC). The outlook of these ratings is stable. These companies comprise a newly formed group, MIEC Group and are headquartered in Oakland, CA.

The ratings reflect MIEC Group’s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.

Concurrently, the assigned ratings follow the successful execution of a quota share reinsurance agreement with MIEC and the assignment of an “r” reinsurance affiliation code. MIEC’s ratings have been extended to MIEC Mutual due to the significant level of reinsurance support provided to MIEC Mutual by MIEC.

MIEC Mutual provides liability coverage for health care professionals and organizations, including health care providers practicing alternative medicine, specifically the specialty of acupuncture. MIEC Mutual was established on April 25, 2025, and was capitalized by MIEC, through a surplus note.

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.

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