December 3, 2024 by matray

AM Best affirmed BETA Healthcare Group’s financial strength rating of “A” (Excellent) with a stable outlook. BETA is a provider of hospital professional liability and the medical professional liability.

Best noted several key aspects of BETA’s operations that contributed to its rating:

• Strongest level of risk-adjusted capitalization as measured by Best’s Capital Adequacy Ratio (BCAR)

• Prudent loss reserving practices which have resulted in consistently favorable development of prior accident year reserves

• Long-term history of organic surplus growth despite sizable dividends paid annually, which are used to manage capital and return profits to members

• Sound liquidity measures supported by an invested asset base that predominantly consists of high-quality fixed-income securities that generate consistent and growing net investment income

“We are pleased that AM Best once again gives BETA high marks for its financial strength and operational excellence,” said Corey Grove, CEO of BETA Healthcare Group. “We continue to build upon this solid foundation to not only be there when our members need us financially, but also help advance their efforts to develop safety cultures and the infrastructure to embed the principles of both patient and employee safety in their organizations.”