Pekin Insurance® Announces Ratings by A.M. Best
The Farmers Automobile Insurance Association, which is one of the member companies of the Pekin Insurance Group, was recently recognized by A.M. Best for maintaining an “A” (Excellent) rating for 50 or more consecutive years. 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 111th ranked writer of Property/Casualty insurance in the United Stated based on 2011 net written premiums. The group’s life company, Pekin Life Insurance Company, is the 140th ranked Life and Health company in the United States based on 2011 admitted assets.
A.M. Best also 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.
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:Best’s Review July 2012