The insurance company known as Finial Reinsurance Company (FRC) has its headquarters located in Omaha, Nebraska.
Established in 1990, this organization offers reinsurance solutions covering various sectors, including property, professional liability, workers compensation, specialty casualty, and standard casualty risks.
As a subsidiary of the National Indemnity Company, FRC’s assets are under the management of its board of directors.
Finial Reinsurance Company Contacts
|Formerly Known As
|Converium Reinsurance (North America)
|Open To Secondaries
|Open To First Time Founds
|Chief Executive Officer
|1314 Douglas Street
|Omaha, NE 68102-1944
Finial Reinsurance Company Ratings
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent) for Finial Reinsurance Company (Stamford, CT).
Simultaneously, AM Best has also reaffirmed the Long-Term ICR of “bbb-” (Good) and the Long-Term Issue Credit Rating of “bbb-” (Good) on $200 million, 7.125% senior unsecured notes, due 2023, issued by Finial Holdings, Inc. (Delaware).
These entities operate as subsidiaries of Berkshire Hathaway Inc. (Berkshire) [NYSE: BRK A and BRK B]. The Credit Ratings (ratings) for these companies maintain a stable outlook.
The ratings also take into account the fact that Finial Reinsurance Company has maintained its highest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR).
This strong capital position, however, is balanced by the absence of any new prospective business as the company has been in runoff mode since 2004.
Over recent years, the company has primarily generated capital through investment returns and the careful management of its runoff liabilities.
Furthermore, the company’s exposure to equity markets has significantly boosted its surplus in recent years, although the surplus did decrease in 2022, dropping from its year-end 2021 high of $1.1 billion to $854 million. Berkshire manages the company’s invested assets.
Revealing The Special Savings Provided By Finial Reinsurance Company
At Finial Reinsurance Company, policyholders have the opportunity to access a variety of exclusive discounts, which have been specifically customized to cater to the unique requirements of diverse individuals and circumstances.
An instance of this is the safe driver discount, which is available to those with an unblemished driving record over a designated time frame.
Furthermore, discounts are extended to students achieving good grades, military personnel, veterans, and members of specific professional organizations.
Frequently Asked Questions
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Finial Reinsurance Company is a great option for anyone who is looking for reliable and reputable Property insurance coverage for their personal or business needs.
By choosing them, you will not only save money and reduce risk but also gain access to comprehensive and flexible coverage that meets your specific needs and goals.
You will also receive excellent customer service and support from the experienced staff of Equitable Financial Life Insurance Company.
If you want to take your Property insurance to the next level, contact the Finial Reinsurance Company today and see how they can help you.
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Anne Mitchell: Reporting Expert in Business Commerce Insurance
Location: New York, NY
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