OLDWICK, N.J.--(BUSINESS WIRE)--May 4, 2005--A.M. Best Co. has affirmed the financial strength rating of A++ (Superior) of Auto-Owners Insurance Group (Auto-Owners). Additionally, A.M. Best has affirmed the financial strength rating of A+ (Superior) of Auto-Owners Life Insurance Company (Auto-Owners Life) (both of Lansing, MI). The rating outlook for all the ratings is stable.
The rating of Auto-Owners Insurance Group reflects its outstanding capitalization, favorable earnings trend and conservative operating philosophy. The group achieved strong operating results as a result of its well-established independent agency relationships, competitive expense structure, diversified product offerings and adherence to strict underwriting fundamentals. The rating also acknowledges Auto-Owners' strong market presence as one of the 20 largest property/casualty insurance organizations in the United States with more than $4.2 billion in net written premium as of year-end 2004.
The affirmation of Auto-Owners Life's rating is based on its continuing integral role as the life, health, and annuity marketing arm of higher-rated Auto-Owners, sustained net premiums growth, favorable statutory operating earnings and superior level of risk-adjusted capitalization.
The rating of Auto-Owners Insurance Group applies to the following five property/casualty members and is based on their consolidated financial results.
-- Auto-Owners Insurance Company
-- Home-Owners Insurance Company
-- Owners Insurance Company
-- Property-Owners Insurance Company
-- Southern-Owners Insurance Company
A.M. Best Affirms Ratings of Auto-Owners Insurance Group
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