ALAS Fitch Ratings Released

On May 10, 2024, Fitch Ratings affirmed ALAS’s financial strength rating of A (Strong) with a Stable Outlook. Fitch cited our “…superior business retention derived through [our] service orientation to member firms in loss prevention and claims management.” Fitch also observed that ALAS is “a market leader in lawyers’ professional liability (LPL) coverage,” and that “Fitch believes ALAS’s very strong capitalization provides ample cushion against high-severity, low-frequency losses; the potential for adverse reserve development; and exposure to equity risks.” Fitch also noted that ALAS’s “reserve development was favorable for YE 2023 extending the streak to eight consecutive years of favorable reserve development.” 

To review Fitch’s press release announcing its rating decision dated May 10, 2024, please click here.