AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” (Excellent) from “a-” (Excellent) of Allied Professionals Insurance Company, A Risk Retention Group, Inc. (APIC) (Scottsdale, AZ). The outlook of these Credit Ratings (ratings) has been revised to stable from positive.

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

The upgrade reflects APIC’s strong operating results, which consistently outperformed AM Best’s medical professional liability (MPL) composite in each of the past five years, in both underwriting and total return metrics. Consequently, the company is well-aligned with peers that have an operating performance assessment of strong. The company’s balance sheet strength continues to be assessed at the very strong level, supported by the strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), consistent favorable reserve development, low leverage metrics and its solid liquidity position.

APIC has maintained its niche market position in the alternative care professional liability space, which primarily encompasses massage, acupuncture and chiropractic practices. The company’s product line concentration is partially offset by its broad geographic diversification and lower product risks relative to its peers. ERM practices remain appropriate as management has established risk tolerances and appetites in place with key risks identified across organizational functions.

The stable outlooks reflect AM Best’s expectation that APIC will maintain the very strong balance sheet strength assessment supported by the strongest level of risk-adjusted capitalization along with strong operating performance metrics that outpace similarly assessed peers in the MPL composite.

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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