AM Best Affirms MICA’s A (Excellent) Financial Strength Rating

September 22, 2026 by matray

AM Best has affirmed the A (Excellent) financial strength rating of Mutual Insurance Company of Arizona and MICA Risk Retention Group Inc., the medical professional liability insurer announced today.

The rating agency also affirmed the companies’ long-term issuer credit ratings of “a+” (Excellent). The outlook for both companies’ ratings is stable.

The affirmation comes as MICA marks its 50th anniversary.

“As MICA celebrates its 50th anniversary, AM Best’s continued recognition affirms the long-term perspective and commitment to our members that have defined MICA since 1976,” said Edward G. Marley, president and CEO of MICA. “For five decades, we have built our success around medical professional liability, earning the trust of physicians and medical practices through deep expertise, exceptional service, and the financial strength to deliver lasting value to our policyholders.”

According to MICA, AM Best’s rating rationale cited the insurer’s risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio, as being at the strongest level. The rating agency also cited MICA’s operating performance and history of returning dividends to policyholders.

MICA has paid policyholder dividends for more than 20 consecutive years and has returned more than $760 million to policyholders since its founding in 1976.

AM Best also cited MICA’s market knowledge, customer retention and position in the medical professional liability insurance markets in Arizona and Utah. The rating assessment also considered the company’s efforts to identify new market opportunities and its approach to risk management.