AM Best Revises Outlook to Positive and Affirms Performance Assessment of Excess Reinsurance Underwriters Inc.

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has revised the outlook to positive from stable and affirmed the Performance Assessment (assessment) of PA-2 (Excellent) of Excess Reinsurance Underwriters Inc. (Excess Re) (Woodbury, NJ).

The assessment reflects Excess Re’s excellent underwriting capabilities, excellent governance and internal controls, excellent financial condition, excellent organizational talent and excellent depth and breadth of its relationships.

Excess Re is a managing general underwriter that specializes in specific and aggregated medical stop loss insurance for a variety of entities across 50 states. The positive outlook of Excess Re’s assessment reflects its ability to generate favorable underwriting metrics, which have consistently outperformed industry peers. In addition, Excess Re’s long track record of stability in conjunction with favorable profitability margins underpins the positive outlook.

The company’s underwriting performance is considered excellent evidenced by favorable loss ratios relative to peers. Excess Re’s underwriting capabilities are further strengthened by its use of analytics, benchmarking and modeling together with an ability to continually refine and adapt to market conditions. Excess Re has a well-developed proprietary underwriting system, which supports full-lifecycle policy servicing and enables customized implementations and new or expanded coverage options.

AM Best considers Excess Re’s governance and internal controls to be excellent. Excess Re has demonstrated alignment of interests with Argo Capital Group Ltd., and has a consistent mission, with established controls, policies and procedures aligned with stakeholders, as well as enhancing operational efficiency.

AM Best’s assessment of Excess Re’s financial condition is excellent. The company has a track record of profitable financial results supported by stable sources of income. Retained earnings support the company’s financial position, with no notable leverage concerns. Furthermore, the consistency of financial results and sustained favorable profitability margins are viewed as positive factors in Excess Re’s financial condition assessment.

Excess Re’s organizational talent is assessed as excellent based on its executive team’s extensive experience with niche expertise. The company’s focus on training and internal promotion has resulted in a long-tenured underwriting and executive team, operating as a nimble, flexible managing general agent.

Excess Re’s depth and breadth of relationships are considered excellent. The company has long-tenured capacity providers and contractual protections, which support durable, mutually beneficial relationships. Excess Re has effective risk mitigation strategies in place with an ability to execute carrier transitions without business disruption.

This press release relates to Performance Assessments that have been published on AM Best’s website. For all information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the Performance Assessments referenced in this release, please see AM Best’s website. For additional information regarding the use and limitations of Performance Assessments, please view Guide to Best’s Performance Assessments for Delegated Underwriting Authority Enterprises. 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.

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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