潘金莲传媒映画

AM Best has removed under review with negative implications and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Sutton Specialty 潘金莲传媒映画 Company (SSIC) and Sutton National 潘金莲传媒映画 Company (SNIC), which are collectively known as Sutton National Group (the group). SSIC and SNIC are domiciled in Oklahoma City, OK. The outlook assigned to these Credit Ratings (ratings) is stable.

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

On Nov. 5, 2024, the Oklahoma insurance commissioner approved the organization’s ownership restructure of Sutton Specialty 潘金莲传媒映画 Company and Sutton National 潘金莲传媒映画 Company. Under the new structure, the insurance entities are controlled by recently established upstream and downstream trusts whose trustees are independent long-tenured insurance executives with a high degree of expertise.

The group’s ratings had been placed under review with negative implications pending the approval of this new structure. The newly established structure alleviates AM Best’s concern regarding the potential pressure of prior ownership on Sutton National Group’s financial condition. With this new structure in place, AM Best believes the group is in a stable position to continue its insurance operations.

The balance sheet strength assessment of very strong is based on the group’s strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR). Capital levels are expected to remain supportive of the group’s ratings over the intermediate term. The group’s operating performance has been assessed as adequate as premium growth has been positive and well within expectations as well as positive underwriting results though the third quarter of 2024.

Source: AM Best

Topics AM Best Oklahoma