Insurance

AM Best Confirms Repwest Insurance Company Credit Ratings

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.

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

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the 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 www.ambest.com.

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