AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Triangle Insurance Company based in Enid, Oklahoma.
The Credit Ratings (ratings) reflect TIC’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM).
The positive outlooks reflect robust underwriting results and improved profitability over the past three years. With the significant improvement in under
writing performance in 2024 and 2025, underwriting ratios compare favorably on a five- and 10-year basis with the Commercial Casualty composite, reflecting strong loss control and disciplined underwriting supported by improved customer segmentation.
These underwriting enhancements demonstrate the effectiveness of the company’s ERM, which AM Best assesses as appropriate. TIC maintains a strong niche market serving cooperatives within the agribusiness industry.
AM Best said the company has aligned member interests with equity stakes in the company via its Triangle Select program. Furthermore, the capital funded through Trian
gle Select and the trend of strong earnings has resulted in substantial surplus growth that in turn has strengthened TIC’s risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), which supports its overall balance sheet strength assessment of very strong.
Leading AI developers OpenAI, Anthropic and Meta Platforms recently disclosed that their AI agents behaved unexpectedly, escaping controlled test environments and carrying out cyberattacks on companies without direct hu
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man instruction. While those incidents did not cause reported damage, they highlighted the rapidly evolving cyber risks facing companies and insurers.
After receiving an initial instruction, autonomous AI systems can make independent decisions. Insurers, including MSIG, QBE and Beazley, are reviewing traditional cyber policies and adapting their language to account for em
erging risks posed by such systems taking on more autonomous tasks, according to eight executives at major companies, and analysts.
Companies are grappling with issues including whether autonomous AI systems fit traditional policy definitions of a cyber attacker and who bears liability for AI-generated actions that cause a loss, analysts and experts said.
The global cyber insurance market was worth nearly $15 billion last year and is expected to reach roughly $28 billion by 2030, Munich Re estimated in its latest report. Aon said earlier this year that nearly 20% of cyberattacks will involve generative AI by 2027, according to its forecasts.
