AM Best has affirmed the Financial Strength Rating of A- (Excellent) and a Long Term Issuer Credit Rating of “a-” (Excellent) of Concert Specialty Insurance Company® (CSIC) (Helena, MN) and its wholly owned subsidiary, Concert Insurance Company® (CIC) (Rolling Meadows, IL). The outlook of these Credit Ratings (ratings) is stable. Collectively, these companies operate under an inter-company pooling agreement and are referred to as Concert Insurance Group® (Concert).

The ratings reflect Concert’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 ratings consider Concert’s overall balance sheet position and takes into account the capital raise that occurred in 2021 by its new owners, a portion of which was infused into both CSIC and CIC. The remaining proceeds reside at the holding company, Concert Group Holdings, Inc., to be used to fund future growth and facilitate expansion initiatives. On a projected basis, Concert’s level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), is assessed at the strongest level and is supportive of growth initiatives over the next several years.

Concert’s operating performance assessment of adequate is based on management’s business plan and projections that are closely aligned with its strategy. The ratings also reflect the group’s limited business profile, which remains in its early stages and is expected to broaden over time. The ERM assessment of appropriate is based on Concert being directed and governed by leadership that has established a risk framework, risk appetite and risk tolerances.

Concert was founded by a group of experienced insurance industry executives in response to growing demand from the fronting market. On both an admitted and surplus lines basis, the group provides fronting products and services as well as options for alternative risk transfer structures, leveraging the expertise and relationships of its management team and strategic partners. As is customary, AM Best will closely monitor results relative to the business plans to ensure any deviations remain within the scope of the current rating assessments.

Adrienne Stark
Senior Financial Analyst
+1 908 439 2200, ext. 5526

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159

Jieqiu Fan
Senior Financial Analyst
+1 908 439 2200, ext. 5372 

Jeff Mango
Managing Director, Strategy & Communications
+1 908 439 2200, ext. 5204


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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