South Carolina-domiciled Indigo Risk Retention Group, Inc. (Indigo RRG) has been assigned a Preliminary Credit Assessment of A- pca (Excellent) and Long-Term Issuer Credit assessment of “a-” (Excellent). The outlook for the PCA is stable. AM Best does not define a PCA as Credit rating, though PCAs use the existing Financial Strength Rating/Issuer Credit Rating scale.
“The PCA reflects Indigo RRG’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. The PCA also reflects the expectation that Indigo RRG qualifies to be a member of the Concert Insurance Group (Concert) rating unit. Initial capitalization of Indigo RRG will occur via a surplus note funded by Concert’s parent, Concert Group Holdings, Inc. Additionally, the PCA reflects the anticipation that Indigo RRG will participate in a material reinsurance agreement with a group member,” said AM Best in a press release.
Indigo RRG will be providing medical professional liability and is sponsored by Concert Group Holdings, Inc., which includes Concert Insurance Company and Concert Specialty Insurance Company.
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