LANSING, Mich., Jan. 20, 2014 /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 42nd 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 42 years," said Jeff Harrold, chairman and CEO, Auto-Owners. "This recognition reflects the company's safe, sound, secure philosophy, which has been consistent throughout our history."
According to A.M. Best, "The ratings reflect AOIG's superior capitalization, historic trend of solid operating income, experienced management team, blend of personal and commercial 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 a select few 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 also been ranked on the Fortune 500 list for 11 consecutive years.
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 4,200 people and offers insurance products exclusively through more than 6,200 independent insurance agencies in 26 states.
SOURCE Auto-Owners Insurance Company