OLDWICK, N.J.--(BUSINESS WIRE)--
AM Best has assigned a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” to Cerity Insurance Company (Cerity) (formerly licensed as PartnerRe Insurance Company of New York). The outlook assigned to these Credit Ratings (ratings) are positive. Concurrently, AM Best has withdrawn the FSR of A- (Excellent) and the Long-Term ICR of “a-” of PartnerRe Insurance Company of New York (New York, NY). At the time of the withdrawal, these ratings were under review with developing implications. Cerity is a newly added member of Employers Insurance Group (Employers) and a wholly owned subsidiary of Employers Holdings, Inc. (EHI) (Reno, NV) [NYSE:EIG], the publicly traded ultimate parent.
The ratings of Cerity reflect its balance sheet strength, which AM Best categorizes as strongest, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. The ratings of Employers are being extended to Cerity given the explicit support provided through a pooling arrangement. The operations of Cerity are fully integrated with the other pooled members of the group.
Cerity is a digital, direct-to-customer company providing workers compensation insurance to certain classes of small businesses.
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