Napa, California—August 12, 2015—A.M. Best has affirmed The Doctors Company’s financial strength rating of “A” (Excellent), its issuer credit rating (ICR) of “a” (Excellent), and its “stable” outlook. The A (Excellent) rating is assigned only to select companies with excellent ability to meet ongoing insurance policy and contract obligations. The “a” ICR is assigned to entities that have an excellent ability to meet their ongoing senior financial obligations.
The ratings apply to The Doctors Company Insurance Group, made up of the parent (The Doctors Company, An Interinsurance Exchange) and TDC Specialty Insurance Company.
The ratings agency recognized The Doctors Company Insurance Group’s strong balance sheet, long-term operating profitability, and excellent business profile as one of the leading providers of medical professional liability insurance in the United States. The ratings also recognize actions taken by management in recent years to realign the organization with its core business and operational strategies. Additionally, the ratings reflect the group's business strategy, utilizing successful integrations of multiple acquired companies to become the largest physician-owned insurer of physician and surgeon professional liability in the U.S., based on direct written premium.
A.M. Best said the ratings reflect that the company’s balance sheet is strong, as evidenced by supportive risk-adjusted capitalization, modest underwriting leverage, sound liquidity, and adequate loss reserves. An additional positive factor, A.M. Best said, is that the company’s earnings have been bolstered by better-than-average underwriting performance. The rating agency noted this is mainly reflective of the group’s fundamental underwriting, pricing, and claims-handling principles in addition to management’s directive of exiting non-profitable venues and lines of business, primarily non-affiliated assumed reinsurance.
“We are pleased that A.M. Best continues to recognize The Doctors Company’s exceptional financial strength and mission-driven operational excellence,” said Richard E. Anderson, MD, FACP, chairman and CEO of The Doctors Company.
About The Doctors Company
Founded and led by physicians, The Doctors Company (www.thedoctors.com) is relentlessly committed to advancing, protecting, and rewarding the practice of good medicine. The Doctors Company is the nation’s largest physician-owned medical malpractice insurer, with 77,000 members and $4.3 billion in assets, and is rated A by A.M. Best Company and Fitch Ratings.
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About A.M. Best
A.M. Best Company is the world's oldest and most authoritative insurance rating and information source.