By <a id="author" class="author" href="/us/authors/josh-recamara/">Josh Recamara</a> <br>AM Specialty Insurance Company (ASIC) said AM Best has affirmed its Financial Strength Rating (FSR) of A- (Excellent) with a stable outlook.<br>AM Best has attributed the rating to its “very strong” level of risk-adjusted capitalization, supported by a Best’s Capital Adequacy Ratio score of 99.6% confidence level as a key driver for the rating, according to the company.<br>The ratings company also cited AM Specialty Insurance’s “conservative” investment portfolio, adding that the company’s focus on low-limit, non-natural catastrophe risks and high-quality reinsurance partnerships emphasize its robust financial position.<br>Shevawn Barder, chief executive of AM Specialty Insurance, said the affirmation validates the company’s strategic vision, as well as the hard work of its management and employees.<br>“As we continue to expand our book of business, our commitment to delivering tailored solutions and financial security to our partners is stronger than ever,” Barder said.<br>AM Specialty Insurance will continue to prioritize its underwriting-first approach, focusing on sustainable and profitable growth, the company said, adding that its suite of value-added services and effective distribution model will help support its goal of delivering stability and predictability to its partners and clients.<br>Since 2022, the company has grown steadily, with its written gross premiums rising to $140 million last year from $100 million in 2023. This reflects its commitment to selective underwriting and providing capacity for high-quality, low-volatility risks, the company said.<br>Last year, AM Specialty Insurance received a <a href="https://www.insurancebusinessmag.com/us/news/breaking-news/am-specialty-insurance-company-gets-capital-boost-509867.aspx" target="_blank">multimillion-dollar capital infusion</a> from Veritex Bank. The company said it will use the investment to strengthen its financial standing and enhance its surplus to drive future growth in the specialty insurance sector.<br>The new funding will also allow AM Specialty Insurance to expand its underwriting capabilities and pursue new insurance programs.<br>The company also <a href="https://www.insurancebusinessmag.com/us/news/breaking-news/am-specialty-insurance-partners-with-once-insurance-for-jewelry-coverage-504592.aspx" target="_blank">partnered with Once Insurance</a> to become the latter’s underwriting partner for a new product for the jewelry insurance market.<br><br><a href="https://news.google.com/rss/articles/CBMiowFBVV95cUxOUnJtMTNReHgxUjdlVldOVk03X3Q4emxQVV9kV3dlaFB6VW8ya29QWk5WUE9oWkRzQUdEY1JXbTdXSmNreFhmSUQtU2FwcVR1QlY0b0F2WXpvdE5HSGs5WDJZX0xqMHBaX2gzM3pNMlBGckZQZGxONEx5cHRralEyQUlQSW1mRXRWdmRxUEMxaV8wdmJHTjc1ckFDeHRqTFQ0bUNn?oc=5">source</a>
