Delos Group Receives A.M. Best Ratings

NEW YORK--Delos Insurance Company, a leader in program business, today announced that A.M. Best Company, the credit rating organization, has assigned a financial strength rating (FSR) of A- (Excellent, a financial size category (FSC) of 5678) and issuer credit ratings (ICR) of “a-” to Lightyear Delos Group and its members. The group consists of Delos Insurance Company (Delos), which previously had a stand-alone FSR of A- (Excellent), and its new, wholly-owned excess and surplus lines subsidiary, Naxos Insurance Company.

In a press release announcing its ratings, A.M. Best said, “The ratings reflect the group’s strong risk-adjusted capital position and the targeted earnings and capital accumulation projections set forth by management. In addition, the ratings recognize the successful track record of the group’s executive team in managing profitable insurance company operations.” A.M. Best also said the outlook for all ratings is stable.

Delos Insurance also announced that Naxos Insurance Company has received approval to write E&S business in 10 states, including Texas, Arizona, South Carolina, Indiana, Alabama, District of Columbia, Georgia, Illinois, Nebraska, and Wisconsin. The company will continue to work on obtaining licenses in several key states with the ultimate goal of obtaining full licensing in all 50 states.

“We are very pleased A.M. Best has recognized our strong capital position and our operating performance in the program market,” said Dr. Detlef Steiner, Chairman of Delos Insurance Company. “We believe the E&S business adds value to our franchise, and is an important tool to enhance our relationships with existing and potential MGA partners.”

Naxos Insurance Company was created from scratch as a clean platform to expand the group’s operations into the U.S. surplus lines market. The majority of the business the company writes will be reinsured in to Delos Insurance.

“Our staff has significant experience and expertise managing unusual coverages, and businesses found in the surplus lines market,” added Steiner. “That knowledge, combined with the flexibility of our E&S business will allow for a more creative and responsive approach to the overall market and the ability to write programs on non-admitted paper across the U.S.”

About Delos Insurance Company / Lightyear Delos Group

Lightyear Delos Group, and its member companies Delos Insurance Company and Naxos Insurance Company, has a financial strength rating (FSR) of A- (Excellent) and issuer credit ratings (ICR) of “a-” with a stable outlook. Delos Insurance leverages its underwriting expertise, world-class actuarial capabilities, as well as its long-term, stable relationships with high-quality managing general agents to write and service programs of varying scopes and sizes. Targeted classes include intermediate tail specialty commercial lines, commercial auto, professional liability, accident and health and personal lines. Visit www.delosinsurance.com for more information.