Rating agency says St. Pete insurer has strong balance sheet
November 25, 2019 - A.M. Best has affirmed the ratings for Vault Reciprocal Exchange. Vault, a St. Petersburg insurance company that caters to the affluent, has a strong balance sheet to support growth plans over the near term, partially offset by a capital structure that leverages surplus notes significantly, according to a report from A.M. Best, a credit rating agency for the insurance industry. Vault has a financial strength rating of A- , which Best said indicates an excellent ability to meet ongoing insurance obligations, and a long-term issuer credit rating of “a-", indicating an excellent ability to meet ongoing senior financial obligations. The credit outlook is stable.