AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Bricktown Specialty Insurance Company (BSIC) of Oklahoma City, Oklahoma. The outlook assigned to these Credit Ratings (ratings) is stable.
The ratings reflect BSIC’s balance sheet strength, which AM Best assesses as very strong, as well as the its adequate operating performance, neutral business profile and appropriate enterprise risk management.
BSIC is a newly formed subsidiary of Trisura Group Ltd. (Trisura) admitted in Oklahoma, and operates as an excess and surplus lines insurer in all other states. Similar to Trisura’s other subsidiary insurers, BSIC will insure program business primarily, ceding most, but not all, of the exposure to third-party and affiliated reinsurers.
The ratings of BSIC also reflect intercompany financial and expense sharing agreements with its ultimate parent, Trisura, and Trisura’s other subsidiary insurers. Additionally, the ratings consider the commonality in management, infrastructure, operational capabilities and systems between the Trisura companies.
Source: AM Best
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