Ohio-based ProCentury Corp. announced that A.M. Best has affirmed the A- (Excellent) rating of its wholly owned subsidiary, Century Surety Company. This rating is based on A.M. Best’s independent opinion of the Century Surety’s financial strength, operating performance, and ability to meet its obligations to policyholders.
Commenting on the rating, Charles Hamm, the company’s CFO said, “We believe this reaffirmation by A.M. Best underscores the
financial strength of our insurance subsidiary. As ProCentury begins its life as a public company, we believe we are well positioned to fortify our presence in the surplus lines market.”
ProCentury Corp. is a specialty property and casualty holding company. Its subsidiary, Century Surety Company, underwrites general liability, commercial property, garage liability and multi-peril insurance for small and mid-sized businesses. Century Surety
primarily writes excess and surplus lines insurance and markets its products through a select network of general agents and brokers.
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