Insurance rating service A.M. Best has given Medicus Insurance Co. an A (Excellent) rating following the company’s acquisition by San Francisco, Calif.-based NORCAL Mutual Insurance Co. Medicus joins the NORCAL Group of companies, including NORCAL Mutual Insurance Co. of San Francisco and PMSLIC Insurance Company of Mechanicsburg, Pa.
According to A.M. Best, the rating reflects the Group’s excellent risk-adjusted capitalization and strong operating performance. Recognition is also given to the historical pattern of favorable loss reserve development.
“As the NORCAL Group expands onto a national platform, this strong rating from A.M. Best will allow a new group of insureds to become acquainted with the customer-focused services offered by NORCAL Group companies,” Scott Diener, President and CEO of the NORCAL Group, said in a statement.
A.M. Best also said the outlook is based upon the stability in operating results, continued strong policyholder retention and demonstrated commitment to pricing and reserving adequacy.
Austin, Texas-based Medicus writes medical professional liability insurance in 31 states.
Topics Mergers & Acquisitions AM Best
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