Financial strength and credit ratings

As of 10/15/2019

S&P

A.M. Best (1)

Moody’s

 

Financial strength ratings (FSR) (2)

 

 

 

 

Evanston Insurance Company

A (Strong)

A (Excellent)

A2 (Good)

 

Markel Insurance Company

A

A

A2

 

Markel American Insurance Company

A

A

A2

 

Markel International Insurance Company Limited

A

A

 

 

Essentia Insurance Company

A

A

A2

 

FirstComp Insurance Company

A

A

 

 

Markel Bermuda Limited (1)

A

A

A2

 

Markel Global Reinsurance Company (1)

A

A

 

 

Markel Insurance SE

A

A

 

 

Lloyd’s Syndicate 3000 (3)

A+

A s

 

 

SureTec Insurance Company

 

A

 

 

SureTec Indemnity Company

 

A

 

 

State National Insurance Company SN

 

A

 

 

Superior Specialty Insurance Company SN

 

A

 

 

National Specialty Insurance Company SN

 

A

 

 

City National Insurance Company SN

 

A

 

 

United Specialty Insurance Company SN

 

A

 

 

Independent Specialty Insurance Company SN

 

A

 

 

Pinnacle National Insurance Company SN

 

A

 

 

 

Credit ratings

 

 

 

 

Markel senior debt

BBB

bbb+

Baa2

 

Alterra USA Holdings Ltd.

BBB

 

 

 

Alterra Finance, LLC

BBB

bbb+

Baa2

 

 

Overall outlook

Stable

Stable

Stable

 

 

 

 

 

 

 

(1) All entities are rated XV for financial size category unless noted. Markel Bermuda Limited and Markel Global Reinsurance Company are rated XIII for financial size category. The State National Companies are rated IX for financial size category. The State National Companies are indicated above by the SN superscript.

(2) Fitch assigned unsolicited ratings of A+ to a number of Markel’s insurance companies and a rating of BBB+ to Markel’s Senior Debt.

(3) Lloyd’s Syndicate: S&P provides an FSR for the Lloyd’s marketplace not by individual syndicate. Lloyd’s marketplace is rated AA- by Fitch.

 

 

 

                                                                                                                                                                             

Financial strength rating

< Investment grade

 

Junk E

S&P

AAA: Extremely strong

AA

A

BBB

BB

B

CCC

 

CC: Extremely weak

A.M. Best

A++, A+: Superior

A, A-

B++, B+

B, B-

C++, C+

C, C-

D

E

F: In liquidation

Moody’s
(1-higher, 2-mid-range, 3-lower)

Aaa: Exceptional

Aa

A

Baa

Ba

B

Caa

Ca

C: Lowest