News & InfoA.M. Best Reaffirms A- Rating for Delos Insurance Group
NEW YORK – November 18, 2009 – Delos Insurance Group, a leader in program business, today announced that A.M. Best Company, the credit rating organization, has reaffirmed its A- (Excellent) financial strength rating and provided the company with a stable outlook. The rating confirms A.M. Best’s confidence in Delos Insurance in the context of its solid risk-adjusted capital position, adequate operating performance and excellent liquidity. This is the third consecutive year Delos Insurance and its member companies have earned an A- rating from A.M. Best, highlighting the successful track-record of the company’s executive team in managing the company’s operations profitability. “In challenging economic times, the reaffirmation of our A- rating underscores the financial strength of Delos and the success of our innovative business model,” said Bill Davis, Chief Executive Officer of Delos Insurance Group. “We are delighted that A.M. Best has again recognized our operating performance, and look forward to continued progress and growth in the program business markets." Delos Insurance said it will continue to focus on programs that cover homogeneous risks controlled and serviced by professional program managers. Targeted classes of business include intermediate-tail specialty commercial lines, commercial auto, personal liability, medical stop-loss and other specialty lines. In August 2009, Delos Insurance announced a joint venture agreement with Avoca Insurance Holdings to form a new underwriting management company called Naxos Avondale Specialty Casualty Inc. to enhance its underwriting and service capabilities in the specialty casualty excess and surplus lines market.
# # # About Delos Insurance Group The Delos Insurance Group of companies has emerged as a leading provider of specialty insurance programs with significant experience managing unusual program books through the company’s successful outsourcing model. Delos created Naxos Insurance in 2007 to add significant value to the company’s business model and provide an alternative approach to customized coverages, offering more flexibility and innovative underwriting for the E&S marketplace. Delos and Naxos are rated A- (Excellent) by A.M. Best Company. Visit www.delosinsurance.com or www.naxosinsurance.com for more information. For more information, please contact: |
