PHOENIX, Feb. 08, 2019 (GLOBE NEWSWIRE) -- CopperPoint Insurance Companies today announced that A.M. Best has affirmed A- (Excellent) ratings for CopperPoint Insurance Group and its wholly owned subsidiary, Pacific Compensation Insurance Company. The outlook of these ratings is “stable” for both financial strength and credit rating. A.M. Best is the most widely recognized provider of insurance industry ratings and financial data.
"We are pleased that A.M. Best has affirmed CopperPoint’s A- (Excellent) rating. We see this as a positive reflection of our operating model and strong financial condition," said CopperPoint President and CEO Marc Schmittlein. "We added Pacific Compensation Insurance Company to the CopperPoint Family of Insurance Companies a year ago and continue to grow our state and business footprint. All of this is possible due to our strong rating and financial health, which gives our distribution partners and clients the confidence to choose CopperPoint as their commercial insurance carrier.”
In its report, A.M. Best indicated that the outlook reflects “CopperPoint Insurance Group's level of risk-adjusted capitalization, which is at the strongest level as measured by Best's Capital Adequacy Model, long-term operating profitability driven by net investment income, and improved reserving patterns.”
About CopperPoint Insurance Companies
Founded in 1925, CopperPoint Insurance Companies (www.copperpoint.com) is a leading provider of workers’ compensation and commercial insurance solutions. With an expanded line of insurance products and a growing six state footprint in the southwestern US, CopperPoint embodies stability and sustainability for policyholders in AZ, CA, CO, NM, NV, and UT. It has $4 billion in assets, a policyholder surplus of nearly $1.5 billion and no debt.
CopperPoint Mutual Insurance Holding Company is the corporate parent of Arizona based CopperPoint Insurance Companies, California based Pacific Compensation Insurance Company, and other CopperPoint insurance entities. All companies are rated A- (Excellent) by A.M. Best.