OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Financial Strength Ratings of A (Excellent) and a Long-Term Issuer Credit Rating of “a” to 7710 Insurance Company (7710) (Summerton, SC). The outlook assigned to the Credit Ratings (ratings) is stable. 7110 is a newly added member of Benchmark Insurance Group and a wholly owned subsidiary of Benchmark Holding Company, which is ultimately owned by Trean Insurance Group, Inc. [NASDAQ: TIG]. The company is being afforded the group’s ratings via a 100% quota share reinsurance contract with Benchmark Insurance Company. The ratings of the other members of the group are not affected by 7710’s rating assignment.
7710 has been made a member of BIG due to its strategic importance to the group. The company provides rate flexibility and additional markets, allowing the group to expand its specialty workers’ compensation focus. 7710 is reinsured by its lead rating unit, Benchmark Insurance Company, and shares common executive management and operational capabilities.
The group’s ratings reflect its balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management.
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