A.M. Best has assigned a pair of ratings to HM Casualty Insurance Co., a subsidiary of health provider Highmark.

The ratings service assigned a financial strength rating (FSR) of A- (Excellent) and an issuer credit rating (ICR) of “a-” to HM Casualty. A.M. Best also assigned an outlook of stable on the ratings.

The action comes after Pennsylvania’s approval of a 100% quota share agreement with HM Casualty and its affiliate, Highmark Casualty Insurance Co.

Highmark Casualty provides group benefits, addressing the risks associated with both work-related and health-related employee absences, according to the company’s website.

In June, A.M. Best affirmed the FSR of “A-“ (Excellent) and ICR of “a-” to Highmark Casualty, based on its “excellent capitalization, strong underwriting and operating performance, favorable reserve development trends as well as the financial support, extensive distribution systems and brand name recognition provided by its ultimate parent, Highmark Inc.,” according to the ratings service.

All the Highmark companies are headquartered in Pittsburgh, Pa.