Pekin Insurance® Announces Ratings by A.M. Best
A.M. Best recently affirmed the Financial Strength Rating of “A” (Excellent) of the Pekin Insurance Group and our two intercompany pool members, The Farmers Automobile Insurance Association and its wholly owned subsidiary, Pekin Insurance Company. The company has achieved this rating since 1960. This rating reflects the company’s excellent risk-adjusted capitalization, long-term operating performance, experienced management team, and solid agency relationships.
It was also announced by A.M. Best that Pekin Insurance is the 107th ranked writer of Property/Casualty insurance in the United Stated based on 2012 net written premiums, which puts it in the top 4% of all Property/Casualty companies in the United States.
In addition, A.M. Best affirmed the “A-” (Excellent) rating for Pekin Life Insurance Company. This rating reflects many positive rating factors including its integral role and generally positive contribution to the Pekin Insurance Group, growth in net premium written, high-quality fixed income investment portfolio, diversified product portfolio, and favorable level of risk-adjusted capitalization.
According to A.M. Best, Pekin Life Insurance Company is the 137th ranked Life and Health insurance company in the United States based on 2012 admitted assets. This ranking puts the company in the top 15% of all Life insurance companies in the country.
A.M. Best Company is a full-service credit rating organization dedicated to serving the insurance industry. Policyholders refer to Best’s ratings and analysis as a means of assessing the financial strength and creditworthiness of risk-bearing entities and investment vehicles.
Source: BestWeek June 2013