AM Best Comments on Credit Ratings of CopperPoint Insurance Company and Its Subsidiaries Following Announced Acquisition of United Casualty and Surety Insurance Company
AM Best Comments on Credit Ratings of CopperPoint Insurance Company and Its Subsidiaries Following Announced Acquisition of United Casualty and Surety Insurance Company
A financial strength rating is an assessment of an organization's overall financial health, indicating how well it can meet its financial commitments. Think of it as a report card that shows whether a company or institution is financially stable and capable of withstanding economic challenges. This rating helps investors gauge the level of risk involved in engaging with or investing in that organization.
long-term issuer credit ratingsregulatory
Long-term issuer credit ratings are assessments of a borrower's ability to repay debt over a period longer than one year. They help investors understand the level of risk involved in lending to that entity, similar to how a credit score indicates trustworthiness. These ratings influence borrowing costs and investment decisions, guiding investors on the safety and stability of their investments.
securities purchase agreement (spa)financial
A securities purchase agreement is a legally binding contract that spells out the sale of shares or other securities, listing what is being sold, the price, how and when ownership changes hands, and any checks or approvals required before closing. Think of it as a detailed bill of sale plus rulebook: it sets buyer and seller promises, protections and conditions, so investors can assess who bears risk, when the deal will complete, and how the purchase may affect ownership and value.
surety insurancefinancial
A three-party guarantee where an insurer (the surety) promises to step in and pay or complete a job if the primary party fails to meet a contract or obligation—think of it like a cosigner who pays or finishes a project if the main person can’t. For investors, surety insurance lowers the chance that a contract will go unfinished or unpaid, but it also creates a potential contingent liability for the guarantor and signals how reliably a company can back its commitments.
proprietary technology platformtechnical
A proprietary technology platform is a set of software, tools and processes owned or controlled exclusively by a company that lets it build, deliver or improve products and services. Like a custom recipe or a specialized toolbox, it can make a company faster, cheaper or harder for rivals to copy, so investors watch it as a source of sustained profits, growth potential and competitive advantage.
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OLDWICK, N.J.--(BUSINESS WIRE)--
AM Best has commented that the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) of CopperPoint Insurance Company (CopperPoint) (Phoenix, AZ) and its wholly owned subsidiaries remain unchanged following the recent announcement of a transaction to acquire United Casualty and Surety Insurance Company (UCS) (Omaha, NE). On May 18, 2026, Boston Omaha Corporation (NYSE:BOC) announced that it has entered into a definitive Securities Purchase Agreement (SPA) to sell UCS, its surety insurance business, which is operated by General Indemnity Group, LLC (GIG), to CopperPoint. The transaction is structured as an all-cash transaction under which CopperPoint will acquire all of the outstanding equity interests of GIG.
GIG operates its surety insurance business through its two wholly owned subsidiaries: UCS and surety placement platform, BOSS Bonds. In addition, the acquisition includes SuretyBonds.Market, a proprietary technology platform developed by GIG. The transaction is expected to close prior to year-end 2026, pending receipt of required regulatory approvals, including approvals by the Nebraska Department of Insurance and the fulfillment of other customary closing conditions. CopperPoint is a specialty insurance company with expertise in workers’ compensation and an expanding multiline property/casualty offering.
For the fiscal year ended Dec. 31, 2025, GIG reported total revenues of $27.2 million. UCS is about 2.4% the size of CopperPoint in terms of shareholder’s equity and about 3.4% in terms of net premiums written. Risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), is expected to remain at a level that supports the consolidated group.
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 www.ambest.com.
