MSIG Specialty Insurance America, Inc., the new excess and surplus (E&S) insurance company of MSIG USA, has received an A+ financial strength rating and issuer credit rating from S&P Global Ratings, with a stable outlook.
The rating is an important milestone for MSIG USA and its continued development as a “leading data-driven specialty insurance company” and enhances its ability to meet the complex and evolving risk requirements of its clients.
MSIG Specialty Insurance America, Inc. was formed to underwrite non-admitted E&S business and expand the company’s capabilities in the specialty commercial insurance area.
Standard & Poor’s views the new entity as a core subsidiary of MS&AD Insurance Group with a strategy consistent with that of its parent company. Furthermore, its ratings are consistent with the broader group profile.
The A+ rating reflects MSIG USA’s strong financial foundation, disciplined underwriting methodology and global reach spanning 48 countries and territories.
The stable outlook reflects that of the parent company and underscores the long-term role the new entity is expected to play in the organization’s strategy.
“This rating is an important step as we continue to build our specialty platform in the U.S.,” said Peter McKenna, CEO of MSIG USA. “It reflects the strength of our balance sheet and our discipline in underwriting. As we expand into the non-admitted E&S market, we are focused on applying a consistent, data-driven approach to support brokers and clients as they navigate evolving risks.”
By merging with MSIG Specialty Insurance America, Inc., MSIG USA can now offer a more complete portfolio of specialty risk strategies.
The company said this move significantly increases MSIG USA’s ability to provide adaptable non-approved solutions to complement its existing approved products.