By Matt Skryja
WALNUT CREEK, Calif., June 9, 2014 –
CSAA Insurance Group, a AAA Insurer, announced that worldwide insurance rating agency A.M. Best has recently reaffirmed its A+ rating. The company has maintained a rating of A or higher for 85 years.
“As we celebrate our company’s centennial this year, we are proud to have maintained an A.M. Best rating of A or higher for 85 years – a remarkable achievement,” said CSAA Insurance Group President and CEO Paula Downey. “Our ability to consistently demonstrate our financial strength and creditworthiness reassures our partners and policyholders that we will be there when they need us.”
The A+ rating reflects CSAA Insurance Group’s strong risk-adjusted capitalization, generally favorable operating earnings and significant personal lines market presence in its selected operating territories, specifically in California, where it ranks among the top carriers in market share for both private passenger auto and homeowners coverages. Only the top ten percent of all U.S. property & casualty insurance companies receive an A+ rating or higher from A.M. Best.
A.M. Best’s rating process involves a comprehensive quantitative and qualitative analysis of a company's balance sheet strength, operating performance and business profile. This includes comparisons to peers and industry standards as well as assessments of operating plans, philosophy and management.
Based on countrywide premium, CSAA Insurance Group is one of the top 20 personal lines property casualty insurance groups in the United States according to the National Association of Insurance Commissioners. Through partnerships with AAA clubs, the company offers AAA-branded insurance in 23 states and Washington D.C. The A+ rating applies to the entire CSAA Insurance Group, including all subsidiaries.
A.M. Best provides credit ratings for the insurance industry. Consumers shopping for insurance use A.M. Best's rating and analysis to assess an insurer's financial strength and creditworthiness. The A.M. Best rating scale ranges from "Secure" (ratings B+ through A++) to "Vulnerable" (ratings B through F).
CSAA Insurance Group, a AAA Insurer, offers automobile, homeowners and other personal lines of insurance to AAA members through partnerships with AAA clubs. Celebrating its 100th anniversary in 2014, CSAA Insurance Group is rated A+ by A.M. Best and is one of the top 20 personal lines property casualty insurance groups in the United States according to the National Association of Insurance Commissioners.