OLDWICK, NJ–(BUSINESS WIRE)–AM Best has Affirmed Repwest Insurance Company (Repwest) (Phoenix, AZ) financial strength rating of A (Excellent) and long-term issuer credit rating of “a” (Excellent). The outlook for these Credit Ratings (ratings) is stable. Repwest is a wholly owned subsidiary of AMERCO [NASDAQ: UHAL]a publicly traded holding company that is also the parent company of U-Haul International, Inc. (U-Haul).
These ratings reflect the strength of Repwest’s balance sheet, which AM Best rates as very strong, as well as its strong operating performance, limited business profile and appropriate management of business risks.
The ratings are backed by the company’s highest risk-adjusted capitalization as measured by Best’s capital adequacy ratio (BCAR). Repwest’s organic capital growth reflects its profitable underwriting results and consistent net investment income, which has been generated by a portfolio of long-term bonds, equities, mortgages and real estate assets. Repwest’s growth continues to benefit from U-Haul’s position as a market leader and continued expansion into self-storage and moving space. Through various programs, Repwest provides commercial inland marine products to insure customer property stored in a U-Haul truck, trailer, self-storage unit, or mobile storage unit.
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