LANSING, Mich., Jan. 19, 2015 /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 44th 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 44 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 99-year history."
According to A.M. Best, "The ratings reflect AOIG's superior capitalization, the re-emergence of solid operating income primarily through net investment income and then supplemented more recently by underwriting profits, an experienced management team, a 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 only 12 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 12 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 4,300 people and offers insurance products exclusively through more than 6,100 independent insurance agencies in 26 states.
SOURCE Auto-Owners Insurance Company