AM Best affirms CopperPoint's financial strength | Insurance Business America
CopperPoint Insurance Companies, a western-based super-regional commercial insurance company, has announced that AM Best has affirmed the financial strength rating of A (excellent) for CopperPoint Insurance Company and its subsidiaries, with a stable outlook. Alaska National Insurance Company has also been added as a new member to AM Best’s rating for CopperPoint Insurance Group.
The ratings reflect the strength of CopperPoint’s balance sheet, risk appetite and operating results over the past several years, the company said. CopperPoint maintains the strongest level of risk-adjusted capitalization as measured by AM Best’s Capital Adequacy Ratio, supported by a conservative investment portfolio, favorable reserve development and a strong reinsurance program.
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“We’re pleased with AM Best’s review of our enterprise, the resulting rating affirmation, and the rating agency’s inclusion of Alaska National within our rating group,” said Marc Schmittlein, president and CEO of CopperPoint Insurance Companies. “Since its acquisition in 2019, Alaska National has become even more integrated with our family of companies and continues to enhance our already strong balance sheet and operating results.
“The differentiated expertise of our now over 750 employees enables us to continue offering best-in-class workers’ compensation coverage, comprehensive risk management solutions and an expanded commercial property and casualty product, while providing exceptional service to policyholders, injured workers and agency partners.”