17 Oct Synergy Comp Insurance Company Maintains AM Best Rating of “A”
AM Best has given Synergy Comp the Financial Strength Rating of “A” (Excellent) and the Long-Term Issuer Credit Rating to “a” (Excellent), maintaining Synergy Comp Insurance Company’s financial outlook.
The ratings reflect Synergy Comp’s balance sheet strength, which AM Best Rating assesses as very strong, as well as its strong operating performance, limited business profile, and appropriate enterprise risk management.
“This financial strength rating affirms the work that Synergy Comp has done over the years in creating safer workplaces, adjudicating claims fairly, and maintaining 100% compliance with transitional return to work,” stated CEO, Lew Kachulis as he announced Synergy Comp’s recent success to the Team. “The future is even more exciting than our past 18 years as we continue to enjoy building a financially healthy insurance company with a mission of helping others.”
Synergy’s risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), is “categorized as strongest, reflective of organic surplus growth achieved through strong operating performance, which has benefited from sustained favorable reserve development patterns over the long term that has driven retained earnings.”
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*Information pulled directly from the AM Best website as of 9/30/2024.
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