JPMorgan’s in-house insurer keeps its A grade from AM Best

AM Best has reaffirmed its Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Rating of “a” (Excellent) for Park Assurance Company, JPMorgan Chase’s captive insurer. The ratings reflect Park’s very strong balance sheet, strong operating performance, and integral role within JPMorgan Chase, despite a limited business profile due to product concentration and reliance on reinsurance and the Terrorism Risk Insurance Program Reauthorization Act. Park provides critical global property coverages to JPMorgan Chase, benefiting from the parent company’s significant financial and professional resources.