AM Best affirms A- rating for Quanta Insurance Company

AM Best has affirmed the financial strength rating of A- and the long-term issuer credit rating of “a-” of Quanta Insurance Company (QIC). The outlook of these ratings is stable.

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

QIC is a single parent captive of Quanta Services, a specialised contracting services company, delivering comprehensive infrastructure solutions for the utility, communications, pipeline and energy industries.

QIC is domiciled in Texas, and writes, on a direct basis, workers’ compensation, commercial auto and general liability deductible reimbursement policies for Quanta Services and affiliated entities on an occurrence basis. QIC’s captive orientation not only affords it with ready access to business, but it also benefits from its familiarity of these homogeneous risk exposures, its parent’s extensive training, fleet management, loss control initiatives and workplace safety.

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