COLUMBUS, Ohio--(BUSINESS WIRE)--Grange Insurance continues to be a financially strong and stable company, according to A.M. Best, a global credit rating agency that specializes in the insurance industry.
A.M. Best reaffirmed Grange’s financial strength rating (FSR) of “A” (Excellent) with a stable outlook for all of its P&C companies. The FSR is the most important component of A.M. Best’s rating because it indicates a company’s ability to pay its policyholders’ claims.
In addition, Grange’s Issuer Credit Rating (ICR) remains an “a+” (Excellent) with a stable outlook. This rating indicates that Grange has an excellent ability to meet ongoing senior financial obligations and places Grange among a top tier of insurance companies nationally.
Grange Life Company’s ratings were also reaffirmed, with an FSR of “A-“ and an ICR of “a-“ with a stable outlook.
“We work hard to earn the trust and confidence of our agents and policyholders every day,” said President and CEO John Ammendola. “Our A.M. Best review is one of the clearest demonstrations of our company’s commitment to being a financially strong, stable and disciplined company worthy of their trust.”
In its review, A.M. Best noted Grange’s strong balance sheet, consistent operating performance and dedicated enterprise risk management team as contributing factors to the company’s stable outlook.
Grange has a long-standing “A” financial strength rating from A.M. Best, and financial strength is a critical consideration when it comes to purchasing insurance.
Grange Insurance, with $3 billion in assets and more than $1.2 billion in annual revenue, is an insurance provider founded in 1935 and based in Columbus, Ohio. Through its network of independent agents, Grange offers auto, home, life and business insurance protection. The company and its affiliates serve policyholders in Georgia, Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia and Wisconsin.