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Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
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  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

AM Best Assigns Credit Ratings to OneNexus Oklahoma Captive Corp.

AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to OneNexus Oklahoma Captive Corp. (OneNexus) (Oklahoma City, OK). The outlook assigned to these Credit Ratings (ratings) is stable.

The ratings reflect OneNexus’ balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).

OneNexus is a property/casualty protected cell captive insurer domiciled in Oklahoma that was incorporated in 2021. OneNexus started writing business in 2023 as a special purpose insurer providing contractual liability insurance policies for the decommissioning of oil and gas wells and facilities for its parent company, OneNexus, LLC., to manage risks associated with asset retirement obligations that arise when oil and gas wells are drilled and obligations reside with the owner/operator of the oil and gas wells. OneNexus guarantees a defined benefit amount to the owner/operator of the wells at the time the well is chosen/required to be decommissioned.

OneNexus’ balance sheet strength assessment is supported by its strongest risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), and reflects the captive’s permanent regulatory capital in the form of a letter of credit pledged by a highly rated reinsurance company. The balance sheet strength assessment also reflects the company’s conservative investment portfolio composed of fixed income securities, short-term investments, and cash and cash equivalents. The captive does not currently utilize reinsurance partially offsetting the positive factors above.

As a start-up company, OneNexus has limited historical operating results; however, early results are considered adequate as the company posted positive earnings in 2024. Overall, the company’s performance to date has benefited from prudent underwriting, its niche business profile and appropriate ERM framework. Growth in the business will depend largely on regulatory requirements requiring financial assurance by oil and gas operators, as well as market acceptance.

The stable outlooks reflect AM Best’s expectation that OneNexus will execute its business plan as provided while maintaining an overall balance sheet assessment in the very strong range, supported by risk-adjusted capitalization at the strongest level, as measured by BCAR.

AM Best remains the leading rating agency of alternative risk transfer entities, with more than 200 such vehicles rated in the United States and throughout the world. For current Best’s Credit Ratings and independent data on the captive and alternative risk transfer insurance market, please visit www.ambest.com/captive.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

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