AM Best Confirms Sooner Insurance Company’s Credit Ratings

AM Best affirmed the financial strength rating of A (Excellent) and the long-term credit rating of “a+” (Excellent) of Earlier insurance company (Earlier) (Colchester, Vermont). The outlook for these Credit Ratings (ratings) is stable.

The ratings reflect Sooner’s balance sheet strength, which AM Best rates as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management (ERM).

Sooner’s balance sheet strength is underpinned by its highest risk-adjusted capitalization as measured by Best’s capital adequacy ratio (BCAR), generally favorable development of loss reserves and low leverage. subscription. Although Sooner has a large loan to its ultimate parent company, ConocoPhillips [NYSE: COP]it is considered relatively low risk due to this affiliation, as well as the parent’s strong balance sheet and positive income history.

Sooner has a long track record of strong operating performance, driven by strong underwriting earnings, with most performance measures outperforming the industry composite. The company’s loss experience has remained favorable for more than a decade due in large part to ConocoPhillips’ strong risk management programs. Sooner is a central part of ConocoPhillips’ ERM program.

The assessment of the company’s business profile reflects its position as a captive insurer of its ultimate parent company. Sooner’s underwriting risks primarily provide property damage coverage and additional liability coverage to ConocoPhillips and its global subsidiaries and joint ventures.


Sooner’s ERM has a culture of risk awareness and a framework to continuously identify and manage various types of risk, including periodic reviews of its potential loss exposures through an industrial risk specialist, a process that AM Best considers very appropriate for the company’s risk profile. The ratings also reflect ConocoPhillips’ implicit support and the critical role the captive plays in its ERM program.

AM Best remains the leading rating agency for alternative risk transfer entities, with over 200 such vehicles rated in United States and across the world. For Best’s current credit ratings and independent data on the captive and alternative risk transfer insurance market, please visit

This press release relates to credit ratings that have been published on AM Best’s website. For all rating information relating to the release and relevant disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity webpage. For more information on the use and limitations of credit rating opinions, please see Best’s Guide to Credit Ratings. For more information on the proper use of Best’s Credit Scores, Best’s Preliminary Credit Scores, and AM Best’s press releases, please see Guide to the Proper Use of Best Scores and Ratings.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Based at United Statesthe company does business in more than 100 countries with regional offices in London, amsterdam, dubai, hong kong, Singapore and Mexico City. For more information, visit

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Kourtnie Beckwith
Financial Analyst

+1 908 439 2200 ext. 5124

[email protected]

Christopher Sharkey
Manager, Public Relations

+1 908 439 2200 ext. 5159

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Daniel Teclaw
Associate Director

+1 908 439 2200 ext. 5394

[email protected]

Jim Peavy
Director, Communications

+1 908 439 2200 ext. 5644

[email protected]

Source: AM Best