Bedford, NH – November 6, 2024 – AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of the members of The Concord Group Insurance Companies (The Concord Group) for the fifth consecutive year.
AM Best’s ratings reflect The Concord Group’s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, neutral business profile, and appropriate enterprise risk management (ERM).
“We are pleased to have our A+ (Superior) Financial Strength Rating affirmed by AM Best for the fifth consecutive year,” said President & Chief Executive Officer of The Concord Group, Daniel L. McCabe. “In the face of difficult market conditions, this distinction validates our balanced approach to delivering on our vision for profitable growth while prudently managing our operations and providing exceptional service to our policyholders. Our results directly reflect the commitment and hard work of our associates and our ongoing collaboration with our independent agents as well as our affiliate partner Auto-Owners Insurance.”
AM Best has affirmed the FSR of A+ (Superior) and the Long-Term ICRs of “aa” (Superior) of Auto-Owners and its four wholly owned property/casualty (P/C) companies that compose Auto-Owners Insurance Group (AOIG).
Source: Concord Group
