LANSING, Mich., June 27, 2012 /PRNewswire/ -- A.M. Best Company has affirmed the financial strength rating of A++ (Superior) of Lansing-based Auto-Owners Insurance Company and its four wholly owned property/casualty subsidiaries. This is the 40th year in a row that Auto-Owners Insurance has received the highest rating available from the nationally recognized credit rating agency.
"Auto-Owners is proud to have received A.M Best's highest rating for the past 40 years," said Jeff Harrold, Chairman and CEO, Auto-Owners. "The rating recognizes four decades of conservative financial management, consistent with the company's safe, sound, secure philosophy."
According to A.M. Best, "The ratings reflect AOIG's (Auto-Owners Insurance Group's) superior capitalization, historical trend of solid operating income, experienced management team, blend of commercial and personal product offerings, and long-standing agency relationships. In addition, AOIG has strong risk management techniques and a well-established market position."
Additionally, the Auto-Owners Life Insurance Company, a wholly owned subsidiary, was rated A+ (Superior) by A.M. Best, an honor it has earned every year since 1976.
Auto-Owners Insurance Group is one of only 10 insurance groups in the U.S. to receive the highest rating possible, A++ (Superior), by A.M. Best.
Besides the A.M. Best high ratings, Auto-Owners Insurance has received other high honors, including:
- Ranking on the Fortune 500 list for 10 consecutive years.
- The J.D. Power and Associates award for the "Highest in Customer Satisfaction with the Auto Insurance Claims Experience," four years in a row, for 2008-2011.
Auto-Owners Insurance is the 15th largest property/casualty insurance group in the nation, based on written premium. Auto-Owners wholly owned subsidiaries consist of:
- Owners Insurance Company
- Property-Owners Insurance Company
- Southern-Owners Insurance Company
- Home-Owners Insurance Company
- Auto-Owners Life Insurance Company
Auto-Owners Insurance employs over 4,000 people and offers insurance products exclusively through more than 6,100 independent insurance agencies in 26 states.
SOURCE A.M. Best Company