AM Best assigns A- ratings to Mainsail with stable outlook

Global ratings agency AM Best has assigned Mainsail Insurance Company with a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent), with a stable outlook.

Mainsail, a property and casualty insurer, offers 17 different lines of coverage, including auto, property, and commercial insurance.

The company became a wholly owned subsidiary of Emerald Bay Specialty Insurance Company (EBSIC) following its acquisition of Mainsail on July 31, 2024. The ratings reflect EBSIC’s very strong consolidated balance sheet, its adequate operating performance, limited business profile, and appropriate enterprise risk management.

After the acquisition, Mainsail and EBSIC entered into a reinsurance pooling arrangement, where Mainsail will cede 100% of its ultimate net liability under all policies to EBSIC. This agreement will automatically renew each year.

The acquisition of Mainsail supports Emerald Bay’s strategic goal of adding an admitted carrier to its platform.

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