AM Best has reaffirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (ICR) of “a-” (Excellent) for Quanta Insurance Company, Inc. (QIC) based in Houston, TX. The outlook for these ratings remains stable.
The affirmed ratings reflect QIC’s very strong balance sheet strength, adequate operating performance, neutral business profile, and effective enterprise risk management.
As a single-parent captive insurer for Quanta Services, Inc. [NYSE: PWR], QIC provides workers’ compensation, commercial auto, and general liability coverage on an occurrence basis to its parent and affiliated entities. Since its domicile in Texas in 2017, QIC has leveraged its parent company’s extensive resources, including training, fleet management, loss control initiatives, and workplace safety programs.
AM Best continues to lead in rating alternative risk transfer entities, with over 200 such vehicles rated globally. For the latest Best’s Credit Ratings and detailed data on the captive and alternative risk transfer insurance market, visit www.ambest.com/captive.
For more information on the Credit Ratings and disclosures mentioned in this release, including the issuing office, please refer to AM Best’s Recent Rating Activity web page. Additional details on the use and limitations of Credit Ratings can be found in the Guide to Best’s Credit Ratings, and guidelines for the proper use of Best’s Ratings & Assessments are available in the Guide to Proper Use of Best’s Ratings & Assessments.
AM Best, headquartered in the United States, operates globally with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore, and Mexico City. For further information, visit www.ambest.com.
