AM Best has revised the outlook to stable from negative and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” for Western Pacific Mutual Insurance Company Risk Retention Group (WPMIC).
WPMIC was formed in 1990 by home builders who are members of Pennsylvania-based Residential Warranty Corp. (RWC). Membership in RWC is required to the join WPMIC. WPMIC provides warranty liability to its members.
“The Credit Ratings (ratings) reflect WPMIC’s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management,” said AM Best in a press release.