Leading Rating Agency Cites Carrier’s Strong Balance Sheet and Operating Performance
SAN DIEGO, November 7, 2019 — ICW Group Insurance Companies, a group of property and casualty carriers, announced today that the A.M. Best Company (A.M. Best), has affirmed its Financial Strength Rating (FSR) of “A” (Excellent) for the company. The rating was also accompanied by a “Stable” outlook.
A.M. Best’s ratings reflect the company’s balance sheet strength, which A.M. Best categorizes as strongest, as well as its strong operating performance and appropriate enterprise risk management.
The rating process by A.M. Best is a comprehensive quantitative and qualitative analysis of a company’s balance sheet strength, operating performance and business profile. According to A.M. Best, an “A” (Excellent) rating is assigned to companies that have an excellent ability to meet their ongoing insurance obligations.
“We’re extremely proud of our A.M. Best rating and the solid financial performance it represents,” said Kevin Prior, president and CEO of ICW Group. “It’s important that agents, brokers and policyholders have a high degree of confidence in their carrier’s financial stability, and this rating and positive outlook confirms ICW Group’s strength in this area. Additionally, we believe it further reassures our agent and broker partners that recommending ICW Group is advice their clients can trust.”
According to A.M. Best, “The rating affirmation is reflective of ICW Group’s continued strong operating and underwriting results, driven primarily by favorable loss experience in its leading line of business, workers’ compensation. Additionally, the rating reflects solid risk – adjusted capitalization, a comprehensive reinsurance program and a fairly conservative investment portfolio.”
Founded in 1899, A.M. Best Company is the world’s oldest and most authoritative objective insurance rating and information source. For more information, visit www.ambest.com. To learn more about the ICW Group ratings, read the full A.M. Best news release.
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 Workers’ Compensation, Property and Auto 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 while elevating the trusted agents who advise them. For more information, visit ICW Group’s Twitter, LinkedIn and Facebook pages.