Seneca Insurance Company Inc.,

Seneca Insurance Group, Seneca Insurance Company, and Seneca Specialty Insurance Company are rated "A" (Excellent) VIII by A.M. Best Company. In their July 20, 2011 report, a full copy of which is available upon request, A.M. Best Company explains their rating as follows:

Rating Rationale

The rating applies to Seneca Insurance Company and its reinsured subsidiary, Seneca Specialty Insurance Company. This rating reflects the group's strong and sustained underwriting and operating performance that has significantly exceeded the industry, and its superior risk-adjusted capital position. Somewhat offsetting the positive rating factors are the group's level of underwriting expenses (which is more than offset by the lower than average level of loss and loss adjustment expenses), continued competitive market conditions and an investment yield that lags that of the composite. The rating outlook reflects A.M. Best's expectation that the group will continue to generate these favorable levels of underwriting and operating performance in the future.

The positive rating factors are derived from the group's diverse product offering and management's emphasis on underwriting process and control, ability to react to changing market conditions, and creation of profitable new business opportunities. The group has delivered loss ratios significantly lower than those of the industry over a sustained period of time. Underwriting results have benefited from consistently favorable development of prior years' loss reserves, generating favorable accident year results. Although Seneca maintains an expense structure several points higher than other package and property writers, it is mitigated by the group's excellent historical loss experience. The group maintains a superior level of risk-adjusted capitalization that demonstrates strong organic growth from both underwriting and investment results, only modestly offset by dividend payments to its parent.


HOME	A.M. Best Rating Seneca Insurance Group, Seneca Insurance Company, and Seneca Specialty Insurance Company are rated "A" (Excellent) VIII by A.M. Best Company. In their July 20, 2011 report, a full copy of which is available upon request, A.M. Best Company explains their rating as follows: Rating Rationale The rating applies to Seneca Insurance Company and its reinsured subsidiary, Seneca Specialty Insurance Company. This rating reflects the group's strong and sustained underwriting and operating performance that has significantly exceeded the industry, and its superior risk-adjusted capital position. Somewhat offsetting the positive rating factors are the group's level of underwriting expenses (which is more than offset by the lower than average level of loss and loss adjustment expenses), continued competitive market conditions and an investment yield that lags that of the composite. The rating outlook reflects A.M. Best's expectation that the group will continue to generate these favorable levels of underwriting and operating performance in the future. The positive rating factors are derived from the group's diverse product offering and management's emphasis on underwriting process and control, ability to react to changing market conditions, and creation of profitable new business opportunities. The group has delivered loss ratios significantly lower than those of the industry over a sustained period of time. Underwriting results have benefited from consistently favorable development of prior years' loss reserves, generating favorable accident year results. Although Seneca maintains an expense structure several points higher than other package and property writers, it is mitigated by the group's excellent historical loss experience. The group maintains a superior level of risk-adjusted capitalization that demonstrates strong organic growth from both underwriting and investment results, only modestly offset by dividend payments to its parent. Click here for AM Best's full report on Seneca. www.ambest.com TOP^
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