Delta scores third consecutive “Excellent” rating
Delta scores third consecutive “Excellent” rating | Insurance Business Asia
Insurance News
Delta scores third consecutive “Excellent” rating
Rating agency outlines factors driving company’s strong employee retention rate
Insurance News
By
Roxanne Libatique
For the third straight year, Delta Insurance Group has been awarded a PA-2 (Excellent) rating by AM Best, the international credit rating agency headquartered in New Jersey.
The rating reflects Delta’s strong underwriting capabilities, solid governance framework, financial strength, and its lasting relationships with brokers.
Delta Insurance Group’s rating
Delta was the first managing general agent (MGA) in the Asia-Pacific (APAC) region to undergo AM Best’s detailed evaluation back in 2022. Since then, the company has maintained a focus on underwriting precision and risk selection.
In the past year, the company has bolstered its team and made significant technological investments to support expansion into new markets and enhance broker relationships.
Kent Chaplin, Delta Insurance Group’s CEO, said that receiving the PA-2 (Excellent) rating for three years in a row demonstrates the team’s dedication to maintaining high standards.
“Brokers trust our expertise and value our outstanding level of service. This is fundamental in building strong relationships and puts us in a unique position to continue expanding our risk offerings,” he said.
Delta Insurance Group’s governance and internal controls
The rating agency also praised Delta’s governance practices and internal controls, emphasising the company’s strategic approach to choosing capacity providers and improving its product offerings.
“Our commitment to excellence is unwavering, and it should reassure our stakeholders of our continued growth,” Chaplin said.
Delta’s new group head of underwriting
In a move to further strengthen its underwriting capabilities, Delta appointed Joleene Dawson as its new group head of underwriting, effective in June 2024.
Dawson is based in Sydney and manages the company’s underwriting strategy across its operations in New Zealand, Australia, Singapore, and other regional markets.
She joined Delta after a 13-year tenure at Chubb, where she held various leadership roles, including corporate unit manager in executive protection and property and casualty underwriting operations manager for the Australia and New Zealand (ANZ) region.
In her new role at Delta, Dawson aims to drive growth through underwriting and product innovation.
“Niche insurers like Delta are pushing the boundaries of the possible by identifying, evaluating, and underwriting new and emerging risks faced by organisations of every kind and size,” she said.
She highlighted Delta’s specialised product offerings for brokers, which include coverage for cyber risks, technology, professional indemnity, and commercial vehicle insurance for specialized fleets.
“These solutions give our brokers the ability to offer their existing customers compelling new value propositions, while further building their books by appealing to entirely new customers,” she said.
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