According to YAHOO!Finance, insurance rating firm A. M. Best Co. Inc. has affirmed the financial strength rating of Cavco Industries, Inc.’s (CVCO) subsidiary Standard Casualty Company with an A- (excellent) and issuer credit rating of “a,-” noting that both ratings are stable. Best notes the company’s adequate risk-adjusted capitalization, generally favorable operating results and excellent local market knowledge. As MHProNews understands, Standard is located in Braunfels, Texas, the state with the highest shipments of manufactured homes in the nation. Standard maintains a conservative investment portfolio that has generated positive net income in recent years despite operating losses in 2011 and 2012 due to weather-related events. Underwriting performance has improved in 2013, and the company has historically adhered to strict underwriting guidelines. Cavco is one of the largest producers of manufactured and modular homes in the nation.
