12/19/2008
A.M. Best gives Regence BlueShield an A!
We are pleased to announce that we have received an A (excellent) in our most recent A.M. Best rating!
This grade reflects A.M. Best's assessment of our financial strength and is based on our strong risk-based capital, favorable underwriting and net income results. Although our income results have declined since last year, the lower operating performance is the result of pricing revisions that we made to lower profit margins and slow the growth of our reserves. While the growth in capital is expected to slow as a result of lower earnings, our capitalization level is expected to remain strong.
At the same time, A.M. Best affirmed the existing A- ratings for our Eastern Washington subsidiary; Regence BlueCross BlueShield of Oregon; Regence BlueCross BlueShield of Utah; and Regence Life and Health. Regence BlueShield of Idaho has a private rating, so it is not announced publicly.
The A rating for Regence BlueShield validates the trust that our customers place in our solidity and stability. Our members are counting on us to achieve the right balance as we stringently manage our financial resources to benefit our members, our company and our communities. We are committed to forging and maintaining lifelong relationships with our members—and to do that, we must remain financially healthy. We think that the upgrade to A reflects this commitment.
If you have questions, please talk to your Regence Sales contact.
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