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AM Best Assigns Credit Ratings to Western Home Insurance Company

November 11, 2021 GMT

OLDWICK, N.J.--(BUSINESS WIRE)--Nov 11, 2021--

AM Best has assigned a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent) to Western Home Insurance Company (WHIC) (Minneapolis, MN). The outlook assigned to these Credit Ratings (ratings) is stable. Concurrently, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICRs of “a-” (Excellent) of Obsidian Insurance Company (Columbus, OH) and Obsidian Specialty Insurance Company (Wilmington DE). The outlook of these ratings is stable. Collectively, these companies are referred to Obsidian Insurance Group. WHIC will be renamed as Obsidian Pacific Insurance Company.

The ratings reflect Obsidian Insurance Group’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 group’s rating affirmations account for its supportive risk-adjusted capital during the initial start-up period, operating performance in line with AM Best’s expectations to date, maintenance of its business model, as well as implementation of measures through its ERM structure to mitigate contractual, credit and underwriting risk.

The ratings assigned to WHIC recognize an inter-company pooling agreement across all the members of the group.

Negative rating actions could occur if the group’s risk-adjusted capital falls below required levels, actual operating results fall outside an acceptable range to the initial projections, the enterprise is unable to gain traction within the parameters of its business profile, or risk appetite and tolerance levels prove to be inadequate for the organization’s profile and risk management practices.


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 Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit

Copyright © 2021 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

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CONTACT: Robert Raber

Associate Director

+1 908 439 2200, ext. 5969

Greg Williams

Senior Director

+1 908 439 2200, ext. 5815

greg.williams@ambest.comChristopher Sharkey

Manager, Public Relations

+1 908 439 2200, ext. 5159

Jim Peavy

Director, Communications

+1 908 439 2200, ext. 5644




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PUB: 11/11/2021 12:00 PM/DISC: 11/11/2021 12:00 PM