Business Wire·Aug 14, 2026, 10:34 AM ET

AM Best Affirms Credit Ratings of Everspan Indemnity Insurance Company and Its Affiliates

AM Best affirmed an A- (Excellent) Financial Strength Rating & an "a-" (Excellent) Long-Term Issuer Credit Rating for Everspan Indemnity Insurance Company & its affiliates.
The outlook for these ratings remains stable.
Ratings reflect very strong balance sheet strength, adequate operating performance, a limited business profile, & appropriate enterprise risk management.
Balance sheet strength is supported by financial flexibility from parent Octave Specialty Group, Inc. (NYSE: OSG) & a high-quality investment portfolio.
Positive factors are partially offset by adverse reserve development & volatility in operating results & risk-adjusted capitalization.
Operating performance is adequate with profitability in the last two years, though volatility occurred in Q1 2026 due to a large net loss increasing the combined ratio by 39.6 percentage points.
Everspan Group is expected to stabilize results by year-end & return to profitability.
The group operates as a limited fronting carrier & specialty program writer serving managing general agents with highly rated reinsurance partners.
ERM is assessed as appropriate with a defined risk appetite structure developed by experienced management.
The affirmed ratings apply to Everspan Indemnity Insurance Company, Everspan Insurance Company, Greenwood Insurance Company, Consolidated Specialty Insurance Company, & Providence Washington Insurance Company.