American Mining Gets ‘BBpi’

A “BBpi” FSR was assigned to American Mining Insurance Co. Inc. by S&P. The company primarily writes coverages for the mining industry, including workers’ compensation, general liability and commercial auto. Key rating factors include the company’s limited market penetration and operating scope, volatile two-year reserve development ratio, higher net leverage than similar companies, and high geographic and product-line concentration. The company, a wholly owned subsidiary of CGH Insurance Group Inc., is rated on a stand-alone basis.