AM Finest has affirmed a monetary power score of A (Glorious) and a long-term issuer credit standing of “a” (Glorious) of Utah-domiciled NiSource Insurance coverage Company (NICI).

The outlook assigned to those credit score rankings is secure.

NICI is a single dad or mum captive owned by US utilities firm, NiSource, overlaying a broad vary of dangers together with property, employees’ compensation, liabilities, medical stop-loss and life insurance coverage for the dad or mum firm and its associates.

The rankings mirror NICI’s steadiness sheet power, which AM Finest assesses as “very robust”, in addition to its robust working efficiency, impartial enterprise profile and applicable enterprise threat administration.

In line with AM Finest, NICI maintains the strongest degree of risk-adjusted capitalisation, as measured by Finest’s capital adequacy ratio.

The steadiness sheet evaluation additionally considers the corporate’s robust liquidity measures, conservative funding philosophy and beneficial loss reserve improvement.

The mixed and working ratios have outperformed the trade averages as a result of a low underwriting expense construction and loss ratios trending positively.

The secure outlooks for NICI mirror the corporate’s sustained profitability, adherence to sustaining capital on the applicable risk-adjusted ranges and inherent benefits as a single-parent captive with rapid entry to the enterprise and assets of its final dad or mum.