Mutual Insurance Co. of Arizona MICA) announced that AM Best has affirmed its Financial Strength Rating (FSR) of A (Excellent) and its Issuer Credit Rating (ICR) of a+ (Excellent) — both with a stable outlook. MICA Risk Retention Group, Inc. also received a rating of A (Excellent), a+ (Excellent) with a stable outlook.
“MICA is proud of its continued financial excellence as exemplified by our approach to business and the ongoing recognition by AM Best,” said Ed Markey, MICA president and CEO. “MICA’s commitment to the independent physicians, advanced healthcare professionals and group practices we cover remains stronger than ever. The people at MICA live our mission every day, and we are committed to bringing value to our members.”
In its rating report, AM Best recognized that MICA maintains the strongest level of risk-adjusted capitalization while maintaining a strong record of distributing policyholder dividends. MICA continues to deliver strong operating results that outperform the medical professional liability composite and the overall property/casualty industry. AM Best also recognized MICA’s significant market knowledge and expertise and its ability to appropriately assess and manage risk.