12 August 2013USA analysis

A.M. Best: corporate culture a positive factor in Vermont captive rating

A.M. Best has affirmed the financial strength and issuer credit ratings of National Guaranty Insurance Company of Vermont (NGIC), citing the management and corporate strategy of the captive’s parent company, Waste Management (WM) as a strength.

According to the ratings agency: “As a pure captive established to met the financial assurance obligations of WM… NGIC’s financial strength is closely tied to the financial position of WM. A.M. Best  views the management and corporate strategy as strengthening to the ratings, given NGICS’s conservative underwriting, operational goals and transparency.”

A.M. Best also touted NGIC’s enterprise risk management process as strong given the impact on conservative risk culture and the support and commitment of WM and NGIC’s mission.