Excellent ratings affirmed for The Motorists Insurance Group companies
A.M. Best has affirmed its current A (Excellent) rating with a stable outlook for The Motorists Insurance Group. The rating agency also affirmed Motorists Life Insurance Co. its current A- (Excellent) rating with a stable outlook.
"The rating that applies to all property and casualty companies in the group reflects our very strong financial position as well as a solid record of growth during the past 10 years," said John J. Bishop, chairman, president and CEO. "It also is an acknowledgement of our excellent working relationships with independent agents, progress with the technology we offer and the hard work of every associate to deliver MAX Service to policyholders and agents alike."
The affirmation of MLIC's rating is based on the company's continued integral position as part of The Motorists Insurance Group, positive trend of net premiums written and "more than adequate" level of risk-adjusted capitalization, according to A.M. Best. MLIC offers traditional life and fixed annuity products through multiple distribution sources to reach a variety of markets.
"Motorists Life had an exceptional growth year at a time when the industry in total was contracting. We are quite confident that Motorists Life is well-positioned for the future," Bishop said.