AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of 'a-' (Excellent) to
The outlook assigned to these Credit Ratings (ratings) is stable.
The ratings reflect TMC's balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).
The very strong balance sheet assessment reflects TMC's strongest level of risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR), with an initial capitalization of
AM Best assesses the company's operating performance as adequate based on TMC's projections. AM Best views the company's business profile as limited given that TMC is a startup entity. TMC's ERM capabilities benefit from overall framework developed at the ultimate parent level.
This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.
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