PITTSBURGH, Aug. 21, 2013 /PRNewswire/ -- HM Life Insurance Company, a member company of HM Insurance Group, was named to Ward's 50® Top Performing Insurance Companies for 2013. This is the fifth consecutive year that HM has been ranked in this elite group selected from nearly 800 life-health companies nationally.
"We are pleased to again be recognized by Ward Group as a top-performer," Mike Sullivan, president & chief operating officer, said. "This acknowledgement of HM's financial stability, as the company continues to grow and particularly with all the questions facing the insurance market, is important to our clients and business partners, as well as to those in our company who work so hard to manage our business well."
Recognition by Ward's requires passing safety and consistency tests that tie to equity, assets, total revenue, growth in revenue and growth in surplus. It is an important objective of Ward's 50® to compare the select group's performance as a group with the rest of the industry. And in addition to achieving greater levels of income returns, the Ward's 50® group also outperformed the industry in surplus growth and net premium growth. Those in Ward's 50® also continue to achieve lower expense ratios.
Ward Group is an Aon Hewitt company and leading provider of operational and compensation benchmarking and best practices services for insurance companies.
About HM Insurance Group
HM Insurance Group (HM) works to protect businesses and their employees from the potential financial risks associated with health costs. Our product portfolio provides producers with health risk solutions that address a range of risk situations confronting employers, employees, health care providers and individuals. A recognized leader in employer stop loss, HM also offers HMO reinsurance and provider excess.
In addition to the reinsurance products, HM provides workers' compensation in Pennsylvania only, and the company is recognized as being among the fastest growing workers' compensation carriers in the state.1 HM also offers group supplemental insurance – critical illness, accident, disability income and term life – nationally through strategic distribution partners and individual critical illness and accident insurance plans in Pennsylvania and West Virginia.
HM Life Insurance Company, HM Life Insurance Company of New York, Highmark Casualty Insurance Company and HM Casualty Insurance Company are rated "A-" (Excellent) by A. M. Best Company, one of the country's oldest and most respected rating agencies. HM also has been named to Ward's 50 top life and health carriers based on financial performance.2 Through its insurance companies, HM Insurance Group holds insurance licenses in 50 states and the District of Columbia and maintains sales offices across the country. Learn more at hmig.com.
1A.M.Best. Best's Market Share Reports (5-year trend study), April 2013.
2Ward Group, Top 50 Life and Health Companies, July 2013.
SOURCE HM Insurance Group