OLDWICK, N.J.–(BUSINESS WIRE)–AM Greatest has affirmed the Monetary Power Ranking of A+ (Superior) and the Lengthy-Time period Issuer Credit score Rankings of “aa-” of Central States Indemnity Co. of Omaha (CSI), and its subsidiary, CSI Life Insurance coverage Firm (CSI Life). The outlook of those Credit score Rankings (scores) is secure. Each corporations are domiciled in Omaha, NE.
The scores mirror CSI and CSI Life’s steadiness sheet power, which AM Greatest categorizes as strongest, in addition to its sufficient working efficiency, restricted enterprise profile and acceptable enterprise threat administration.
Moreover, CSI and CSI Life profit from very conservative underwriting leverage, in addition to the implicit help from its final guardian, Berkshire Hathaway Inc. (Berkshire) [NYSE: BRK A and BRK B]. CSI is a specialty insurance coverage firm that gives bank card credit score insurance coverage and has fronting agreements with a number of insurers.
These constructive score elements are offset by CSI’s elevated frequent stock leverage, new enterprise pressure and near-term execution threat. CSI at the moment writes, on a gross foundation, extra non-credit insurance coverage premiums in contrast with its long-standing credit score insurance coverage enterprise.
The score affirmations of CSI Life mirror its synergies with CSI. The scores additionally mirror the robust risk-adjusted capitalization and the express help offered by its guardian, CSI, in addition to the implicit help from its final guardian, Berkshire. Offsetting score elements embrace CSI Life’s restricted enterprise profile and lack of product diversification.
This press launch pertains to Credit score Rankings which were printed on AM Greatest’s web site. For all score info regarding the discharge and pertinent disclosures, together with particulars of the workplace accountable for issuing every of the person scores referenced on this launch, please see AM Greatest’s Current Ranking Exercise net web page. For added info concerning the use and limitations of Credit score Ranking opinions, please view Information to Greatest’s Credit score Rankings. For info on the right media use of Greatest’s Credit score Rankings and AM Greatest press releases, please view Information for Media – Correct Use of Greatest’s Credit score Rankings and AM Greatest Ranking Motion Press Releases.
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