Company celebrates $1 billion in net worth; receives prestigious Ward’s 50 Top Performing Carrier Award
SAN DIEGO, Sept. 7, 2017— ICW Group Insurance Companies, a group of property and casualty carriers, announced today that the company’s net worth surpassed $1 billion, and was named one of Ward’s 50 P&C Top Performers for the 11th time.
“ICW Group takes great pride in reaching the billion dollar mark, and being named a Ward’s 50 top performing company,” stated Kevin Prior, president and CEO of ICW Group. “These significant financial accomplishments are a direct reflection of the tremendous partnerships we have with our agents, brokers and policyholders. The trust they place in ICW Group to create a top tier insurance experience is paramount to our success.”
ICW Group has grown significantly over the past five years. Since 2012, industry rating agency A.M. Best has ranked ICW Group first in cumulative direct written premium growth among the 20 largest U.S. work comp carriers, and this past year its work comp line moved up to fifth place in California and 17th nationwide. The company operates in 16 core states throughout the U.S. with additional expansion plans for 2018 and beyond. A key driver of ICW Group’s success has been its proven track record helping policyholders achieve fewer and less costly claims resulting in long term premium savings. The company accomplishes this through extensive risk management expertise, highly proactive claims handling, aggressive fraud protection, and other customer-centric services.
Each year, Ward Group analyzes the financial performance of nearly 3,000 property-casualty insurance companies and identifies 50 elite carriers. To be designated a Ward’s 50 Top Performing carrier, companies must achieve compound annual premium growth between 10-40 percent and rank among the top 50 carriers across multiple financial criteria.
“ICW Group’s solid financial position fuels our ongoing investment in our customers, team members, processes and technologies,” said Prior. “For our policyholders, it enables us to offer best-in-class products and services, provide multi-state coverage, and maintain price consistency. In turn, this helps our agent and broker partners strengthen their client relationships and grow their business.”
About ICW Group
Based in San Diego, ICW Group Insurance Companies is the largest privately held insurance company domiciled in California. Quoting more than $3 billion annually, ICW Group represents a group of Property, Auto and Workers’ Compensation insurance carriers, including Insurance Company of the West and Explorer Insurance Company. ICW Group is recognized nationally as an industry leader in helping policyholders achieve fewer and less costly claims, and is committed to meeting the needs of its policyholders and elevating the trusted agents and brokers who advise them. More information is available at www.icwgroup.com, http://www.twitter.com/ICWGroup, http://www.linkedin.com/companies/icw-group and http://www.facebook.com/ICWGroup.