8 December 2020Actuarial & underwriting

AM Best assigns A rating to MMIC RRG

AM Best has assigned a financial strength rating of A (excellent) with a stable outlook to MMIC Risk Retention Group (MMIC RRG).

MMIC RRG is a sponsored risk retention group of Constellation, the parent company of MMIC Insurance. Constellation provides medical professional liability insurance to physicians, clinics, hospitals and other healthcare facilities, ancillary healthcare providers, long term care facilities and also offers self-insured retention options.

The rating reflects Constellation’s consolidated balance sheet strength, which AM Best categorises as strongest. It also has adequate operating performance, a neutral business profile and appropriate enterprise risk management.

As a member of Constellation, MMIC RRG enjoys explicit support from its parent through participation in a quota share reinsurance program with MMIC Insurance. MMIC RRG is also fully integrated into Constellation’s operations and strategic plans, with a centralised management structure.

Constellation sponsored the formation of MMIC RRG in 2011 to meet the geographic expansions needs beyond its licensed territories.