Author: Gary Jackson

Companies Conifer Holdings

For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media – Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases. The group’s ability to generate profits to help support organic capital growth is a very important issue that AM Best will continue to monitor. The ratings reflect the group’s balance sheet strength, which AM Best categorizes as strong, as well as its marginal operating performance, limited business profile and appropriate enterprise risk management. The negative outlooks reflect the possibility that non-core lines of business could negatively impact capital adequacy if material adverse development resumes.

Related Companies

CNFR has six subsidiaries that together make up a broad and flexible platform from which the company provides specialty insurance products. A balanced mix of commercial and personal specialty insurance products are targeted to niche and underserved segments and tailored to meet the specialized needs of insureds. Licensed to write insurance on both an excess and surplus and an admitted basis, CNFR’s flexibility allows it to operate profitably in a variety of markets and pricing scenarios.

Ratings of Conifer Holdings, Subsidiaries Under Review with Negative Implications

Together, these two companies write specialty commercial insurance coverage on an excess and surplus (E&S) basis (CIC) and on an admitted basis (White Pine) in all 50 U.S. states and Washington, D.C. Conifer Insurance Company provides customized insurance products for regional industry groups underserved by large national and international insurance companies. Conifer’s core expertise lies in servicing businesses operating in the hospitality industry, providing restaurants, bars and taverns with comprehensive coverages supported by knowledgeable management, underwriting and claims handling. Conifer Insurance Company is based in Michigan, and offers both admitted and excess & surplus lines capabilities which vary by state. AM Best is a global credit rating agency, news publisher and data provider specializing in the insurance industry.

More from Business Wire

  1. Conifer Insurance Company provides customized insurance products for regional industry groups underserved by large national and international insurance companies.
  2. A balanced mix of commercial and personal specialty insurance products are targeted to niche and underserved segments and tailored to meet the specialized needs of insureds.
  3. CNFR has six subsidiaries that together make up a broad and flexible platform from which the company provides specialty insurance products.

The ratings reflect AM Best’s view that the group will continue to make progress in returning to profitability as management refocuses its insurance operations toward the companies’ niche commercial specialty lines of business. Prospectively, AM Best expects underwriting results to improve in the near to medium term as the group gains scale in the specialty lines segment and grows into CHI’s infrastructure. The companies within the group each have a track record of success in their niche commercial specialty lines, including liability coverage for restaurant/bars/taverns, quick service restaurants and security guards. The ratings reflect AM Best’s view that the group will continue to make progress in returning to profitability as management refocuses its insurance operations toward the companies’ niche commercial specialty lines of business. Which provides common management and an improving, complementary business profile to its affiliate, CIC, as well as its supportive insurance holding company.

AM Best Upgrades Credit Ratings of White Pine Insurance Company

The Executive and Senior Management team has deep industry knowledge and longstanding relationships with highly skilled underwriters and agents. These relationships, coupled with extensive insurance industry expertise, position CNFR to further expand its distribution network and continue its organic growth. Experienced in-house claims professionals, highly seasoned underwriters, a conservative investing strategy, and disciplined reserving practices are designed to protect and build CNFR’s capital.

Companies

Headquartered in Oldwick, NJ, AM Best has offices in cities around the world, including London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. The ratings of CHI reflect standard notching from its lead insurance subsidiary, Conifer, and the outlook reflects the linkage of CHI’s rating to that of Conifer. Its status as a publicly traded company offers potential financial flexibility for the enterprise with access to public debt and equity markets. White Pine Insurance Company operates primarily on an admitted basis, and markets its products through a network of independent agents and brokers. Target classes of business include main street mercantile businesses, restaurants, bars and taverns, artisan contractors, garages, commercial auto risks, dwellings, homeowners, and other specialty lines.