More risk retention groups are carrying ratings from AM Best or Demotech, Inc. as of August 2023 than were carrying ratings in August 2022. The number of risk retention groups carrying an A.M. Best fell to 42 from 43, while the number of risk retention groups carrying a Demotech rating increased from 31 to 34. Two risk retention groups—Attorneys’ Liability Assurance Society Ltd., a Risk Retention Group and The Doctors Company RRG, a Recip. Exchange—carry a rating from Fitch.
There is some overlap between the ratings. Paratransit Ins. Co., a Mutual RRG and Allied Professional Ins. Co., a RRG, Inc. carry both an A.M. Best rating and a Demotech rating, while The Doctors Company RRG carries both a A.M. Best and a Fitch rating. Thus, 75 individual RRGs—or 30.7% of all active RRGs—carry a rating of some sort. This is up slightly from the 30.1% of risk retention groups carrying a rating in 2022.
The only change in the list of AM Best rated risk retention groups is the removal of St. Charles Insurance Co. Risk Retention Group after the risk retention group entered runoff. However, AM Best has issued a Preliminary Credit Assessment to Indigo Risk Retention Group, Inc. and when that rating is made official the number of risk retention groups carrying an AM Best rating will bounce back to forty-three.
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