AM Best affirmed their rating of Vermont-domiciled Gateway Rivers Insurance Company, which provides insurance coverage to subsidiaries of AT&T for certain property and casualty risks. The company will retain its financial strength rating of A- (excellent) and issuer credit rating of “a-“.
AM Best cited strong capitalisation and a conservative operating strategy as reasons for the positive rating, along with the company's critical role and favourable profile as part of AT&T. The rating agency also cited the captive’s excellent operating performance during the past five years.
According to AM Best, Gateway's management and corporate strategy are major sources of strength, particularly because of the company’s conservative underwriting, operational goals and transparency. AM Best also views Gateway's enterprise risk management practices as strong given their impact on the company’s conservative risk culture and defined risk controls.
AT&T, AM Best, captive, insurance