ALAS Ltd. Ratings
Below are excerpts from the most recent Standard & Poor's and Fitch reports on ALAS Ltd. along with links to the full text of each report.
"ALAS has a very strong competitive position in its legal professional liability niche market supported by loyal owners/insureds and by its strong loss prevention through its disciplined underwriting and claims management expertise. Its January 2009 renewal resulted in the voluntary renewal of 100% of its members. The company is the leading provider of legal professional liability insurance in the U.S. focused on medium-to-large law firms."
"We expect ALAS' competitive position to remain very strong, with the company's loyal client base. Its superior underwriting, loss prevention, and claims management practices should produce consistent, ongoing profitability sustaining the very strong levels of capital underlying the rating."
"ALAS has a solid competitive position and strategy and is an established, stable, long-term player in the lawyers' liability insurance market, with a specialized expertise that enables it to better meet the needs of its insureds and to differentiate itself from the competition with value-added services, particularly in loss prevention and claims management. Additionally, Fitch believes that ALAS' status as a mutual company insulates it somewhat from short-term pressures to grow revenues and earnings and enables it to absorb volatile short-term operating results."