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Stock impact report

AM Best Affirms Credit Ratings of Members of Spinnaker Insurance Group [Yahoo! Finance]

Hippo Holdings Inc. (HIPO) 
Company Research Source: Yahoo! Finance
Rating of "a-" (Excellent) of Spinnaker Insurance Company and its 100% reinsured subsidiaries, Spinnaker Specialty Insurance Company and Wingsail Insurance Company. Concurrently, AM Best has affirmed the Long-Term Issue Credit Rating of "bbb" (Good) on the $50 million, 9.5% surplus notes, due in 2040, issued by Spinnaker Insurance Company. The outlook of these Credit Ratings (ratings) is stable. All companies are headquartered in Bedminster, NJ, and collectively referred to as Spinnaker Insurance Group (Spinnaker). The ratings reflect Spinnaker'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. Spinnaker's very strong balance sheet strength assessment is supported by its strongest level of risk-adjusted capitalization, as measured by Best's Credit Adequacy Ratio (BCAR). Spinnaker's publicly traded parent, Hippo Holdings Inc. (Hippo) [NYSE: HIPO], has de Show less Read more
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