Springfield, MA (June 30, 2020) – AM Best has affirmed the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Ratings of “aa+” of the members of MedPro Group (MedPro), which includes Wellfleet Insurance Company (Fort Wayne, IN); Wellfleet New York Insurance Company (Flushing, NY) and its other affiliates.
The ratings reflect balance sheet strength, which AM Best categorizes as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.
“We’re so proud of our financial rating,” said Drew DiGiorgio, President and CEO of Wellfleet. “As a member of the Berkshire Hathaway family, we make business decisions and investments that align with a long-term customer strategy. In addition to our world-class innovation and service focus, our team is committed to delivering sound underwriting, every day.”
The ratings also acknowledge MedPro’s strongest risk-adjusted capitalization, long-term profitable operating performance and the leading market position it maintains in the medical professional liability (MPL) sector. Additionally, the ratings benefit from the explicit and implicit financial support provided by its affiliate, National Indemnity Company, and MedPro’s ultimate parent, Berkshire Hathaway Inc. [NYSE: BRK A and BRK B], which includes reinsurance programs, investment opportunities and capital support.
For more information, read the full release.
Jennifer Picard, PR Manager