This session will feature a captive manager (who has eight A.M. Best-rated companies in his portfolio) discussing the pros and cons of a captive seeking a rating, as well as a representative from A.M. Best discussing the process and ongoing requirements for a rating. The importance of actuarial data to seeking a rating, as well as on an ongoing basis, will be considered. The advantages of a rating are lower borrowing costs, possible elimination of fronting charges, and market acceptance. The disadvantages of obtaining a rating are the potential capital implications to maintain the rating, annual time and costs, and the need for quality data and stability in management and financial results. The session will discuss what factors should drive the decision to seek the rating, and whether the rating process itself has an impact on the actuarial evaluation and reports.