What's Happening?
AM Best has placed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of 'a-' (Excellent) of Jet Insurance Company under review with developing implications. This action
follows the acquisition of Jet by Amherst Specialty Insurance Company (ASIC) on December 15, 2025. Jet, which provides property and casualty coverage primarily through surety bonds in the admitted market, is now a wholly owned subsidiary of ASIC. ASIC, a Texas-domiciled excess and surplus lines insurer, plans to leverage Jet as part of its strategy to write policies directly in the admitted market. AM Best will maintain the ratings under review as it engages in further discussions with ASIC's management to understand the strategic importance of Jet in the company's future plans.
Why It's Important?
The review of Jet Insurance's ratings by AM Best is significant as it reflects the potential impact of the acquisition on Jet's financial stability and strategic direction. For stakeholders, including policyholders and investors, the outcome of this review could influence confidence in Jet's ability to meet its obligations. The acquisition by ASIC suggests a strategic shift that could affect Jet's market operations and competitive positioning. The review process will provide insights into how Jet will integrate into ASIC's broader business model and the implications for its financial health. This development is crucial for the insurance industry as it highlights the dynamics of mergers and acquisitions and their impact on company ratings.
What's Next?
AM Best will continue its dialogue with ASIC's management to assess the strategic role of Jet within the company. The outcome of these discussions will determine whether the ratings will be affirmed, downgraded, or upgraded. Stakeholders will be closely monitoring the situation to understand the future direction of Jet's operations and its impact on the market. The insurance industry will be keen to see how ASIC's acquisition strategy unfolds and its implications for competition and market share.
