OLDWICK, New Jersey – (COMMERCIAL THREAD) –AM Best has assigned a financial strength rating of A (excellent) and a long-term issuer credit rating of âa +â (excellent) to Metropolitan General Insurance Company (Metropolitan General) (Warwick, RI). The outlook assigned to these credit ratings (ratings) is stable. Metropolitan General is a wholly owned subsidiary of MetLife, Inc. (MetLife) [NYSE: MET].
The ratings reflect the strength of Metropolitan General’s balance sheet, which AM Best believes to be strong, as well as its adequate operational performance, limited business profile and appropriate management of business risks. Metropolitan General’s ratings also benefit from its ownership by MetLife. The balance sheet strength assessment reflects the highest level of risk-adjusted capitalization, as measured by Best’s capital adequacy ratio (BCAR), and capital growth expectations. Operating performance is expected to be profitable as Metropolitan General will focus on underwriting legal and pet insurance. Metropolitan General is integrated with the ERM and MetLife business processes, and benefits from MetLife’s distribution network, reputation and leadership in employee benefits. Legal and pet insurance offered by Metropolitan General will provide additional options for employees of these plans.
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