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Insurance ratings actions, July 13


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Insurance ratings actions, July 13

S&P Global Market Intelligencecompiles ratings actions in the insurance space daily through 5:30 p.m. ET. Actionsafter 5:30 p.m. ET will be included in the following day's roundup.

Managed care

A.M.Best downgradedthe financial strength rating to B+ from B++ and the issuer credit rating to "bbb-"from "bbb" of QCA HealthPlan Inc.

Additionally,A.M. Best placed each rating under review with developing implications.

A.M.Best said the downgrades reflect the anticipated diminished implicit and explicitsupport that QCA may receive from its ultimate parent, Catholic Health Initiatives, which has announced that itintends to sell its insurance businesses.

The ratingagency said the announcement indicates declined strategic importance of QCA to itsparent. A.M. Best expects that Catholic Health's capital and operational supportfor QCA may weaken in the near to medium term.

The underreview status reflects the uncertainty surrounding the future of QCA, its expansionplans and the strategic role that QCA will play within its parent's insurance groupstructure. The ratings will remain under review until A.M. Best receives more definitivedirections from Catholic Health and QCA's management on the final strategy to bepursued, as well as QCA's business and capitalization plans.

A.M.Best affirmedthe A financial strength rating and "a" issuer credit ratings of and its affiliated group of Delta Dental plans, Delta Dental Plan of Ohio Inc. and Delta Dental Plan of Indiana Inc.

The ratingagency also affirmed the A financial strength rating and "a" issuer creditrating for Renaissance Life &Health Insurance Co. of America, a wholly owned subsidiary of RenaissanceHolding Co., a Michigan-based for-profit company. A.M. Best also affirmed the A-financial strength ratings and "a-" issuer credit ratings for andDelta Dental Plan of New Mexico Inc.

The outlookfor each rating is stable.

A.M.Best said the affirmations for Delta Dental Plan of Michigan and its affiliatesreflect significant and persistent enrollment gains, forward-looking operationalefficiencies and strong capitalization. The ratings of Delta Dental of Kentuckyreflect progressive revenue development, strong market share and improved balancesheet strength.

The ratingagency said the ratings of Delta Dental Plan of New Mexico reflect strong capitaldevelopment, high brand recognition and an improved technology platform. RenaissanceLife & Health's ratings reflect its strong capitalization, recognition as beingintegral to the overall organization's business expansion strategy and strong earnings.


A.M.Best upgradedthe financial strength rating to A from A- and the issuer credit rating to "a"from "a-" of Preferred PhysiciansMedical Risk Retention Group Inc.

The outlookfor each rating has been revised to stable from positive.

A.M.Best said the ratings reflect Preferred Physicians' strong risk-adjusted capitalization,its extended trend of above-average earnings driven by very profitable underwritingthrough market cycles, and a business profile focused on providing medical professionalliability coverage to anesthesiologists in multiple states.