Independence American Upgraded

A.M. Best Company upgraded Independence American Insurance Co. rating to “B++” (very good) from “B+” (very good). The company has a stable outlook.

The ratings are based on Independence American’s strong risk-adjusted capitalization on a stand-alone basis, profitable growing presence in the medical stop-loss business and positive aggregate statutory operating results. This rating should facilitate Independence American’s goal of writing insurance on its own paper to complement its growing reinsurance premiums. In anticipation of increasing its own business, Independence American, which now has 34 licenses, is filing employer medical stop-loss and short-term medical in most of the states in which it is licensed, and is actively considering filing other products, including dental and vision.

AMIC is a holding company principally engaged in the health insurance and reinsurance business through Independence American Insurance Co. and its managing general underwriter division.