May 22, 2026 by matray

AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” (Excellent) from “a-” (Excellent) of Healthcare Providers Insurance Co. and its reinsured affiliate, HPIC Risk Retention Group. Both companies are domiciled in Charleston, SC, and are members of Healthcare Providers Insurance Group. The outlook of these Credit Ratings (ratings) has been revised to stable from positive.

The ratings reflect HPIC’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management.

The rating upgrades reflect HPIC’s improved balance sheet strength fundamentals, driven by a stable investment portfolio that is driving consistent returns and consistently favorable reserve development. HPIC’s balance sheet strength is supported by the strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR). HPIC has generated solid surplus growth despite significant capital returns to members.

The stable outlooks reflect AM Best's expectation that the group will maintain its balance sheet assessment in the very strong range over the intermediate term with strong operating results contributing to surplus growth.