#United States #Financial Strength #HAI Group #Cheshire #AM Best

HAI Group Receives Upgraded Financial Strength Rating from AM Best

On September 25, 2025, HAI Group, the leading property-casualty insurance provider focused on the public and affordable housing sector, announced a significant upgrade to its Financial Strength Rating (FSR) by AM Best. This prestigious rating has been elevated from A (Excellent) to A+ (Superior), marking HAI Group as a top player within its field.

According to AM Best’s 17-level rating scale, HAI Group now stands just below the highest rating, A++. This accomplishment positions HAI Group among a select group of only six global captive insurers to achieve an A+ rating, with merely three organizations rated even higher. This recognition emphasizes HAI Group's exceptional performance in the competitive insurance landscape.

Factors Behind the Upgrade

AM Best's decision was based on a thorough analysis of HAI Group's strong underwriting results and impressive operating profitability. The company has demonstrated a continuous improvement trajectory since 2017 following a positive shift in executive leadership, showcasing consistent gains in performance metrics.

In its announcement, AM Best noted several influential factors contributing to this enhanced rating:

• - Substantial Net Investment Income: HAI Group has maintained robust levels of investment income, aiding its operational finances.
• - Disciplined Expense Management: Effective management of expenses has positioned HAI Group to optimize profitability further.
• - Favorable Loss Development: The company’s ability to navigate loss developments handsomely has reinforced its financial foundation.
• - High Client Retention Rates: HAI Group has achieved strong retention rates among its clients, highlighting trust and satisfaction within the market.

Leadership Voices

Ed Malaspina, President and CEO of HAI Group, expressed gratitude toward the team, saying, "This upgrade reflects the hard work, focus, and discipline of our entire organization. Our commitment to excellence has brought us here, and this recognition shows that the work we've put in is paying off."

Malaspina noted that HAI Group was established during a challenging time for public housing agencies, when finding dependable and affordable coverage was difficult. He emphasized the organization's enduring commitment to continue delivering quality service to this sector even in the future.

Troy LePage, Executive Vice President and COO, also shared insights into the positive trajectory of the organization, stating, "This milestone is a testament to the dedication and focus of our entire team. It reinforces the strength of our strategy and positions us to keep innovating, growing, and finding new ways to support the public and affordable housing industry for years to come."

Market Position and Recognition

HAI Group's elevated FSR underscores its leading market position primarily in public housing, while its growing influence in the broader affordable housing sector enhances future business prospects. The organization has crafted a solid enterprise risk management framework which AM Best identified as proactive and characterized by clear governance.

The recently rated member companies of HAI Group that benefited from the upgraded ratings include:

• - Housing Authority Risk Retention Group, Inc.
• - Housing Enterprise Insurance Company, Inc.
• - Housing Specialty Insurance Company, Inc.
• - Housing Authority Property Insurance, A Mutual Company

About HAI Group

For nearly four decades, HAI Group has been dedicated to serving public and affordable housing providers, offering customized insurance and risk management solutions tailored to protect their assets while enhancing efficiency and supporting their housing strategies.

As a recognized leader in its field, HAI Group remains committed to excellence and responsive to the evolving needs of its clientele, and this A+ rating is a beacon of reassurance to stakeholders about the organization's financial and operational stability.

For more information, you can visit HAI Group’s official website or read AM Best's official announcement.

About AM Best

AM Best is a globally recognized credit rating agency, specializing in the insurance sector, and operates in over 100 countries, helping to inform the industry's stakeholders through robust data analytics and credit assessments.