AM Best confirms credit ratings from insurance company EyeMed – InsuranceNewsNet

The ratings reflect EIC’s balance sheet strength, which AM Best rates as very strong, as well as the company’s reasonable operational performance, neutral business profile and risk management. The ratings take into account EIC’s strategic importance to EssilorLuxottica as well as the comprehensive operational support provided by the parent company.

The ratings also reflect EIC’s risk-adjusted capitalization at very strong levels, as measured by Best’s capital adequacy ratio (BCAR). The company’s assessment of its balance sheet strength is supported by a highly liquid investment portfolio and solid liquidity measures. The ratings also take into account the company’s reliance on reinsurance programs and history of dividend payments.

EIC reported consistently positive operating performance through 2021 and the second half of 2022. Based on its five-year average return on equity, EIC continues to outperform its peer group. Additionally, the company continues to experience strong premium growth, reflecting its positive brand awareness and affiliation EyeMed Vision Care, LLC, as well as its ultimate parent. The ratings also reflect the company’s established market presence and solid overall market share in the eye care space. EIC is strategically important to EssilorLuxottica’s vertically integrated business model as the main insurer. The ratings are also enhanced by EIC’s ultimate parent company, EssilorLuxottica, a global market leader with a widespread and well-established footprint and an overall favorable credit history supporting its insurance operations.

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Jennifer Asamoah
Senior Financial Analyst

+1 908.439.2200, extension 5203

[email protected]

Christopher Sharkey
manager, public relations

+1 908.439.2200, extension 5159

[email protected]

Joseph ZazzaraMBA

director

+1 908.439.2200, extension 5797

[email protected]

Al Slawin
Senior Specialist in Public Relations

+1 908.439.2200, extension 5098

[email protected]

Source: AM Best

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