Moody’s and Standard & Poor’s affirm financial strength
American Family Insurance receives ratings from two new agencies.
American Family Insurance has received financial strength ratings from two new agencies: Moody’s and Standard & Poor’s (S&P).
Both rating agencies affirmed the company’s financial strength, with Moody’s giving the company an ‘A1’ rating and S&P giving it an ‘A’ rating. The Moody’s ranking is fifth highest out of 21 available ratings and the S&P is sixth highest out of 21 ratings.
“American Family’s A1 insurance financial strength (IFS) rating reflects the company’s established personal lines franchise in the Midwest and growing national presence driven by its active acquisition strategy, a sound balance sheet with conservative financial leverage and a high-quality fixed income portfolio,” said Moody’s in its news release.
Read the entire Moody’s new release.
These are in addition to annual ratings from A.M. Best and Fitch Ratings. American Family Insurance received an annual financial strength rating of ‘A’ from A.M. Best in April 2019 and a rating of ‘A+’ from Fitch Ratings in July 2019.
Summary of financial strength ratings (FSR):
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. 306 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 General, Homesite and Main Street America. Across these companies the group has more than 13,500 employees nationwide.