AM Best has affirmed the Financial Backbone Appraisement (FSR) of A (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa ” of the capital subsidiaries of The Travelers Companies, Inc. (TRV) (headquartered in New York, NY) [NYSE: TRV], collectively accepted as Travelers Accumulation (Travelers). In addition, AM Best has affirmed the FSR of A (Superior) and the Long-Term ICRs of “aa ” of Travelers Casualty and Surety Company of America (TCSA) (Hartford, CT) and its affiliates, Travelers Casualty and Surety Company of Europe Bound (TCSCE) (United Kingdom) and Travelers Allowance Company of Canada (TICC) (Ontario).
Concurrently, AM Best has affirmed the Long-Term ICRs and the chief Long-Term Issue Credit Ratings (Long-Term IR) of “a ” of TRV and its two wholly endemic after captivation companies, Travelers Property Casualty Corp. and Travelers Allowance Accumulation Holdings Inc. (both headquartered in Hartford, CT). All outstanding antithesis issued by the two after captivation companies are affirmed by TRV. All added Long-Term IRs and Short-Term Issue Credit Ratings (Short-Term IR) affirmed by TRV, and TRV’s apocalyptic Long-Term IRs additionally accept been affirmed. The angle of these Credit Ratings (ratings) is stable.
AM Best additionally has affirmed the FSR of A (Excellent) and the Long-Term ICR of “a” of The Dominion of Canada General Allowance Company(Dominion) (Toronto, Ontario, Canada). The angle of these ratings is stable.
Additionally, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICR of “a-” of Aboriginal Floridian Auto and Home Allowance Company (First Floridian) (Tampa, FL). The angle of these ratings is stable. (Please see articulation beneath for a abundant advertisement of the companies and ratings.)
The ratings of Travelers reflect the group’s antithesis area strength, which AM Best categorizes as strongest, as able-bodied as its actual able operating performance, favorable business contour and adapted action accident administration (ERM).
Historically, risk-adjusted assets has consistently been acerb admiring of the group’s ratings. It exceeds the beginning for the arch analysis by a advanced margin, as abstinent by Best’s Capital Adequacy Ratio (BCAR). The appraisal of the group’s antithesis area backbone additionally reflects its abiding accident assets position, the use of a absolute reinsurance affairs and aerial affection reinsurance partners. While Travelers appear all-embracing adverse development of its accident affluence through the aboriginal nine months of 2019 on a GAAP basis, the bulk is almost bashful about to the group’s assets base. AM Best expects that the group’s affluence will reflect a assiduity of its advisable access to the appulse of civic trends on claims settlements but does not ahead any actual appulse on risk-adjusted assets in the abreast term.
The group’s actual able operating achievement reflects consistently assisting after-effects accurate by about able underwriting after-effects and abiding advance income. Underwriting achievement in 2019 will be impacted abnormally by the adverse accident assets development and accident losses. The accumulation has appear absolute underwriting assets in nine of the accomplished 10 years, with 2011 actuality the barring due to an added bulk of catastrophes.
Based on 2018 absolute premiums written, Travelers has the arch bazaar allotment in bartering curve and is the ninth-largest claimed curve biographer in the United States. Overall, Travelers ranks as the sixth-largest property/casualty (P/C) biographer in the United States. Travelers maintains a ample advance of accident in that it offers a advanced arrangement of P/C coverages advance geographically in all 50 states, the District of Columbia, Canada, England and Ireland.
The ratings of TCSA and TCSCE reflect the group’s antithesis area strength, which AM Best categorizes as strongest, as able-bodied as its actual able operating performance, favorable business contour and adapted ERM.
The ratings of TICC reflect its antithesis area strength, which AM Best categorizes as strongest, as able-bodied as its able operating performance, aloof business contour and adapted ERM. The ratings additionally reflect the absolute abutment it receives from its absolute parent, TCSA, as able-bodied as from its ultimate parent, TRV.
The ratings of Dominion reflect its antithesis area strength, which AM Best categorizes as strongest, as able-bodied as its bordering operating performance, aloof business contour and adapted ERM. The ratings additionally reflect the absolute abutment it receives from its ultimate parent, TRV.
The ratings of Aboriginal Floridian reflect its antithesis area strength, which AM Best categorizes as actual strong, as able-bodied as its able operating performance, bound business contour and adapted ERM.
A complete advertisement of The Travelers Companies, Inc.’s FSRs, Long-Term ICRs and Long- and Short-Term IRs additionally is available.
This columnist absolution relates to Credit Ratings that accept been appear on AM Best’s website. For all appraisement advice apropos to the absolution and pertinent disclosures, including capacity of the appointment amenable for arising anniversary of the alone ratings referenced in this release, amuse see AM Best’s Recent Appraisement Activity web page. For added advice apropos the use and limitations of Credit Appraisement opinions, amuse appearance Understanding Best’s Credit Ratings. For advice on the able media use of Best’s Credit Ratings and AM Best columnist releases, amuse appearance Guide for Media – Able Use of Best’s Credit Ratings and AM Best Appraisement Action Columnist Releases.
AM Best is a all-around appraisement bureau and advice provider with an absolute focus on the allowance industry. Visit www.ambest.com for added information.
Copyright © 2019 by A.M. Best Appraisement Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
View antecedent adaptation on businesswire.com: https://www.businesswire.com/news/home/20191105006244/en/
SOURCE: AM Best
Elizabeth Blamble Chief Financial Analyst 1 908 439 2200, ext. 5603 [email protected] Jennifer Marshall Director 1 908 439 2200, ext. 5327 [email protected] Christopher Sharkey Manager, Public Relations 1 908 439 2200, ext. 5159 [email protected] Jim Peavy Director, Public Relations 1 908 439 2200, ext. 5644 [email protected]
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