AM Best Assigns Credit Ratings to Members of Ledgebrook Insurance Group
AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Ratings of “a-” (Excellent) to Ledgebrook Specialty Insurance Company (Ledgebrook Specialty) and Stonehaven Specialty Insurance Company (Stonehaven Specialty). Both companies are domiciled in Delaware and are collectively referred to as Ledgebrook Insurance Group (LIG). LIG is part of Ledgebrook Inc., a tech-enabled company that is headquartered in Boston, MA. The outlook assigned to these Credit Ratings (ratings) is stable.
The ratings reflect LIG’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 (ERM).
The balance sheet strength assessment is driven by AM Best’s expectation that LIG will maintain the strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), over the five-year start-up period. Additionally, the assessment is contingent upon management executing its proposed plans and maintaining an appropriate capital buffer to support future growth plans.
