AM Best assigned to Quanta Insurance Company, Inc. (QIC) (Houston, TX) A- (excellent) financial strength rating and ‘a-‘ long-term issuer credit rating (excellent). The outlook for these credit ratings (ratings) is stable.
The ratings reflect the soundness of the QIC balance sheet, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and good enterprise risk management.
QIC is a subsidiary of Quanta Services, Inc. [NYSE: PWR], a leading specialized contracting company providing end-to-end infrastructure solutions for utilities, communications, pipelines and energy. QIC was incorporated in Texas in 2017 and provides direct workers compensation, commercial vehicles, and general liability insurance to its parent and affiliates based on accidents. QIC’s captive orientation not only gives the company free access to business, but also benefits from its parent company’s extensive training, fleet management, loss control initiatives, and workplace safety.
AM Best remains the leading rating agency for alternative risk transfer organizations with over 200 rating agencies in the US and worldwide. For current Best credit ratings and independent market data for captive and alternative risk transfer insurance, visit www.ambest.com/captive…
This press release refers to the credit ratings published on the AM Best website. For all rating information pertaining to the issue and related disclosures, including details of the department responsible for assigning each of the individual ratings mentioned in this issue, see AM Best’s Recent rating activity Internet page. For more information on the use and limitations of credit rating scores, please review Best Credit Ratings Guide… For information on the proper use of Best’s Credit Ratings media and AM Best press releases, please review Media Guidelines – Proper Use of Best Credit Ratings and AM Best Rating Action Press Releases…
AM Best is an international rating agency, news publisher and analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information visit www.ambest.com…
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