AM Best Places Credit Ratings of United Casualty and Surety Insurance Company Under Review With Positive Implications
AM Best has placed under review with positive implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of United Casualty & Surety Insurance Company (UCS) (Omaha, NE).
The Credit Ratings (ratings) reflect UCS’ 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.
The ratings of UCS have been placed under review with positive implications due to the recent announcement that CopperPoint Insurance Company (CopperPoint) has entered into a definitive stock purchase agreement (SPA) to acquire the surety insurance business of Boston Omaha Corporation (BOC), operated by General Indemnity Group, LLC (GIG), which is the intermediate parent of UCS. The transaction is structured as an all-cash transaction whereby CopperPoint will acquire all outstanding equity interests of GIG. The acquisition brings together two entities with aligned strategic objectives under common ownership.
The transaction is expected to close by year-end 2026, subject to customary conditions, including the receipt of required regulatory approvals from the Nebraska Department of Insurance and other necessary regulatory bodies. The ratings will remain under review with positive implications as AM Best conducts discussions with the company’s management team regarding CopperPoint’s future strategy and until the transaction closes.
