A.M. Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa- “(Superior) for the members of The Concord Group Insurance Companies for the third consecutive year.
The rating actions reflect The Concord Group’s balance sheet strength, which A.M. Best assesses as strongest, as well as its adequate operating performance, neutral business profile, and appropriate enterprise risk management (ERM). The rating also reflects The Concord Group’s strategic position within the Auto-Owners’ organization, as well as the significant operating and financial benefits as a result of their 2017 affiliation.
“We are very happy to have our A+ (Superior) Financial Strength Rating affirmed by A.M. Best for a third year in a row,” said Daniel L. McCabe, President & CEO of The Concord Group. “These results recognize the hard work and commitment each and every employee has put into the organization every day. It also validates our efforts working with Auto-Owners and our Independent Agents to offer the most competitive insurance products and services possible to policyholders in New England.”
The FSR of A++ (Superior) and the Long-Term ICRs of “aa+” (Superior) have been affirmed, each with a stable outlook, for Auto-Owners Insurance Company and its wholly owned property and casualty subsidiaries.
Source: Concord Group