Madison,
22
March
2018
|
06:59 PM
America/Chicago

A.M. Best affirms American Family's ‘A’ (Excellent) financial strength rating

Summary

A.M. Best affirms American Family’s ‘A’ (Excellent) financial strength rating for the fifteenth year in a row while upgrading the company’s issuer credit rating to ‘a+’.

A.M. Best recently affirmed the excellent financial strength ratings and stable outlooks of American Family Insurance Group (including Homesite and The General) and American Family Life Insurance Company as of March 22, 2018.

The ‘A’ rating is the third highest of their 15 ratings and is the fifteenth consecutive year American Family Insurance Group received this rating. A.M. Best’s financial strength rating reflects their opinion of an insurer’s ability to meet its ongoing insurance policy and contract obligations.

  • American Family Insurance Group: A (Excellent) financial strength rating with a stable outlook.

  • American Family Life Insurance Company: A (Excellent) financial strength rating with a stable outlook.

A.M. Best upgraded the issuer credit rating of American Family Insurance Group and American Family Life Insurance Company to ‘a+’ from ‘a’ (the sixth highest of 21 ratings). A.M Best’s issuer credit rating reflects their opinion of an insurer’s ability to meet its ongoing financial obligations.

“This recognition reflects our commitment to be financially strong so we can be there for our customers in their time of need,” said Dan Kelly, chief financial officer.

As an enterprise, American Family has taken several steps to improve our long-term financial health including:

  • Expanding the company’s geographic footprint and distribution capabilities via direct channel investments, providing additional options for consumers and enhancing the customer experience.

  • Strengthening of the exclusive agency distribution channel through significant investments in technology.

  • Purchasing enterprise-wide catastrophe aggregate reinsurance.

  • Making significant investments in systems, products, and pricing capabilities to change the way business is done, allowing the company to respond more quickly to changing customer needs.

  • Improving organizational flexibility to pursue initiatives through the mutual holding company structure with no diminishment of organizational strength.

Use this link to access the A.M. Best news release about American Family Insurance Group.

 

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About American Family Insurance
Madison, Wisconsin-based American Family Insurance is the nation’s thirteenth-largest property/casualty insurance group and ranks 315th on the Fortune 500 list. The company sells American Family-brand products, including auto, homeowners, life, business and farm/ranch insurance, primarily through its exclusive agents in 19 states. American Family affiliates (The General, Homesite and AssureStart) also provide options for consumers who want to manage their insurance matters directly over the Internet or by phone. Web www.amfam.com; Facebook www.facebook.com/amfam; Twitter www.twitter.com/amfam