HOUSTON, Nov. 03, 2016 (GLOBE NEWSWIRE) -- Tokio Marine HCC today announced that A.M. Best Company, Inc. has upgraded the financial strength ratings (FSR) to “A++ (Superior)” from “A+ (Superior)” and issuer credit ratings (ICR) to “aa+” from “aa” of the property/casualty companies in the Houston Casualty Group and HCC Life Insurance Company. The outlook for all of A.M. Best’s ratings is Stable.
“We are very pleased with the actions taken by A.M. Best to upgrade our insurance company ratings. These changes reflect our strong balance sheet and consistent underwriting results and the strategic role that we play within the Tokio Marine Group,” said Christopher J.B. Williams, Tokio Marine HCC’s Chief Executive Officer.
The following property/casualty insurance companies comprise Houston Casualty Group, as defined by A.M. Best:
- Houston Casualty Company
- U.S. Specialty Insurance Company
- Avemco Insurance Company
- HCC Specialty Insurance Company
- American Contractors Indemnity Company
- United States Surety Company
- Producers Agriculture Insurance Company
- Producers Lloyds Insurance Company
Tokio Marine HCC is the marketing name used to describe the affiliated companies under the common ownership of HCC Insurance Holdings, Inc., a Delaware-incorporated insurance holding company. Headquartered in Houston, Texas, Tokio Marine HCC is a leading specialty insurance group with offices in the United States, the United Kingdom, Spain and Ireland. Tokio Marine HCC’s major domestic and international insurance companies have financial strength ratings of “AA- (Very Strong)” from Standard & Poor’s Financial Services LLC, “A++ (Superior)” from A.M. Best Company, Inc., and “AA- (Very Strong)” from Fitch Ratings. Tokio Marine HCC is a member of the Tokio Marine Group, a premier global company founded in 1879 with a market capitalization of $30 billion as of December 31, 2015. For more information about Tokio Marine HCC, please visit www.tokiomarinehcc.com.