American Capital Receives A.M. Best Rating

American Capital Receives A.M. Best Rating

American Capital Assurance Group has received a financial strength rating of B++ (good) by the A.M. Best Company, a credit rating organization. The St Petersburg-based insurance group also received an issuer credit rating of "bbb." ACA is composed of two Florida-based insurers, the American Capital Assurance Corporation and its subsidiary Home Pointe Insurance Company.

The A.M. Best ratings are the first for ACAG. Home Pointe had previously been awarded a B+ rating. Specializing in [under]writing condominiums, American Capital currently insures more than 1,000 condominium "master" policies, which typically cover roofs, exterior walls, and other common property items. Home Point specializes in homeowners' insurance and currently insures more than 14,000 Florida residents. Both entities are owned by Safe Harbor Holding, LLC. and are affiliated with the managing general agent, Safety Harbor Underwriters, LLC.