Madison,
27
May
2020
|
12:14 AM
America/Chicago

Fitch Ratings affirms American Family's A+ rating

Summary

Fitch Ratings recently affirmed the A+ (strong) financial strength rating for American Family Insurance. 

Fitch Ratings recently affirmed the A+ (strong) financial strength rating for American Family Insurance. This is the fifth highest of Fitch’s 21 rating categories.

In March, American Family received first-time ratings from Moody’s and Standard & Poor’s (S&P). In May we received our annual rating by A.M. Best and jumped 52 spots up the Fortune 500 list.

In addition to affirming our A+ financial rating, Fitch revised its outlook to negative from stable, which was due in part due to potential impacts on financial results from the COVID-19 pandemic and the company’s intentional redeployment of capital to grow and diversify the enterprise and enhance its technology and other capabilities to meet customer preferences.

“We are pleased Fitch has affirmed our A+ financial strength rating – a recognition of our strong underwriting and policyholder equity of more than $9 billion,” said Chief Financial Officer Dan Kelly. “As a mutual company, we’re proud that we have the financial strength to be there when our customers need us most – like during the current challenging times – as well as to make strategic, long-term investments in our customers, employees, agency owners and communities.”

Read the entire Fitch news release.

Summary of financial strength ratings (FSR):

Rating Agency

Rating

       Rankings

A.M. Best

A

Third highest of 15 available ratings

Fitch

A+

Fifth highest of 21 available ratings

Moody's

A1

Fifth highest of 21 available ratings

S&P

A

Sixth highest of 21 available ratings

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About the American Family Insurance group
Based in Madison, Wisconsin, American Family Insurance has been serving customers since 1927. We inspire, protect and restore dreams through our insurance products, exceptional service from our agency owners and employees, community investment and creative partnerships to address societal challenges. We act on our belief in diversity and inclusion by constantly evolving to meet customer needs and preferences. American Family Insurance group is the nation’s 13th-largest property/casualty insurance group, ranking No. 254 on the Fortune 500 list. The group sells American Family-brand products, primarily through exclusive agency owners in 19 states. The American Family Insurance group also includes American Family Connect Property and Casualty Insurance Company, the proposed new legal name of Ameriprise Auto & Home, The GeneralHomesite and Main Street America. Across these companies the group has more than 13,500 employees nationwide.