Bedford, Texas-based insurer State National Group reported that it has again earned an A.M. Best rating of “A” (Excellent), affirming the group’s consistent financial performance and operational stability.
The rating applies to the group’s three intercompany pool members led by State National Insurance Company, Inc. (SNIC) and its wholly-owned subsidiaries, National Specialty Insurance Company (NSIC) and United Specialty Insurance Company (USIC).
State National’s rating recognizes the group’s “consistent operating profitability, solid capitalization and adequate liquidity,” according to A.M. Best.
“The affirmation of our ‘A’ rating confirms not only our financial strength, but also the consistency that customers have come to expect from State National for over 35 years,” said Terry Ledbetter, president of State National Companies.
In its affirmation, A.M. Best highlighted State National’s success in writing program business, noting that the company is “one of the leading providers of policy issuance and management services on program business administration for other specialty insurance organizations.”
“Our ‘A’ rating is a reflection of the success and progress of our Lender and Program Services divisions,” Ledbetter added. “Our ability to continue to earn the ‘Excellent’ rating from Best further reinforces client confidence in our strength and stability.”
Source: State National, www.statenational.com