AM Best Affirms Credit Ratings of Quanta Insurance Company, Inc.
19 Julio 2024 - 12:16PM
Business Wire
AM Best has affirmed the Financial Strength Rating of A-
(Excellent) and the Long-Term Issuer Credit Rating of “a-”
(Excellent) of Quanta Insurance Company, Inc. (QIC) (Houston, TX).
The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect QIC’s balance sheet strength, which AM Best
assesses as very strong, as well as its adequate operating
performance, neutral business profile and appropriate enterprise
risk management.
QIC is a single parent captive of Quanta Services, Inc. [NYSE:
PWR], a leading specialized contracting services company,
delivering comprehensive infrastructure solutions for the utility,
communications, pipeline and energy industries.
QIC was domiciled in Texas in 2017 and writes, on a direct
basis, workers’ compensation, commercial auto and general liability
coverages to its parent and affiliated entities on an occurrence
basis. QIC’s captive orientation not only affords the company with
ready access to business, but it also benefits from its parent’s
extensive training, fleet management, loss control initiatives and
workplace safety.
AM Best remains the leading rating agency of alternative risk
transfer entities, with more than 200 such vehicles rated in the
United States and throughout the world. For current Best's Credit
Ratings and independent data on the captive and alternative risk
transfer insurance market, please visit
www.ambest.com/captive.
This press release relates to Credit Ratings that have been
published on AM Best’s website. For all rating information relating
to the release and pertinent disclosures, including details of the
office responsible for issuing each of the individual ratings
referenced in this release, please see AM Best’s Recent
Rating Activity web page. For additional information
regarding the use and limitations of Credit Rating opinions, please
view Guide to Best's Credit Ratings. For information
on the proper use of Best’s Credit Ratings, Best’s Performance
Assessments, Best’s Preliminary Credit Assessments and AM Best
press releases, please view Guide to Proper Use of Best’s
Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and
data analytics provider specializing in the insurance industry.
Headquartered in the United States, the company does business in
over 100 countries with regional offices in London, Amsterdam,
Dubai, Hong Kong, Singapore and Mexico City. For more information,
visit www.ambest.com.
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Fred Eslami Associate Director +1 908 882
1759 fred.eslami@ambest.com Daniel Ryan Senior
Director +1 908 882 2290 daniel.ryan@ambest.com
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Relations +1 908 882 2310 christopher.sharkey@ambest.com
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908 439 2318 al.slavin@ambest.com