A.M. Best has affirmed the financial strength rating (FSR) of A+ (superior) and the long-term issuer credit ratings (long-term ICR) of “aa-” for the members of The Concord Group Insurance Companies.
The rating actions reflect Concord Group’s balance sheet strength, which A.M. Best categorizes as strongest, as well as its adequate operating performance, neutral business profile, appropriate enterprise risk management (ERM) and strategic position within the Auto-Owners organization, which is a highly rated, super-regional insurer with more than $13.8 billion in policyholders’ surplus.
The FSR of A++ (superior) and the long-term ICRs of “aa+” (superior) have been affirmed, each with a stable outlook, for Auto-Owners Insurance Company and its wholly owned property/casualty subsidiaries. The Concord Group became affiliated with Auto-Owners Insurance Company in April 2017.
Founded in 1928, The Concord Group Insurance Companies offers home, auto, business and life insurance. The Concord Group works exclusively with independent insurance agents, and its products are available from more than 600 agents in Maine, Massachusetts, New Hampshire and Vermont.
Source: The Concord Group Insurance Companies
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