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AM Best Maintains Under Review With Negative Implications Status for Credit Ratings of Sutton National Group’s Members

AM Best has maintained the under review with negative implications status for the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Sutton Specialty Insurance Company (SSIC) and Sutton National Insurance Company (SNIC), which are collectively known as Sutton National Group or the group. SSIC and SNIC are domiciled in Oklahoma City, OK.

The Credit Ratings (ratings) reflect Sutton National Group’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and adequate enterprise risk management.

Sutton National Group’s ratings were initially placed under review with negative implications on Nov. 16, 2023, and will remain under review with negative implications reflecting the group’s ongoing restructuring at the ownership level. The new structure would move the operating entities directly under a new trust structure, which coupled with changes in the current board of directors, will help alleviate pressures under the current ownership structure. Without the restructure, there will be continued negative pressure on the operating company’s ratings. AM Best also expects the group to complete its audits for full-year 2023 at Sutton National Insurance Holdings LLC.

The ratings are expected to remain under review with negative implications until the restructuring is complete, Sutton National Insurance Holdings LLC has had time to complete its audit for 2023 and AM Best has completed its evaluation of the impact of the new structure on the group’s credit rating fundamentals.

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 pertinent 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 web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

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 over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit

Copyright © 2024 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.


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