ICW Group Insurance Companies Continue to Deliver Strong Financial Performance
SAN DIEGO, California – October 13, 2009 – Consistently strong financial performance by ICW Group Insurance Companies garnered the carrier several prestigious honors this year, including the most recent from industry rating watchdog A. M. Best.
In May, Insurance Journal Magazine identified ICW Group as one of 149 “Super Regional Property/Casualty Insurers™.” In July, the Ward Group selected the company as one of its Ward’s Top 50 P&C carriers.
In September, ICW Group received its most recent recognition of financial strength and stability, with an A- (Excellent) financial rating from A.M. Best. This marks the 7th consecutive year that ICW Group has earned this rating, and places the company among the top performing property-casualty insurance carriers in the United States. The rating process by A.M. Best is a comprehensive quantitative and qualitative analysis of a company’s balance sheet strength, operating performance and business profile. An A- rating is assigned to companies that in A.M. Best’s opinion have “an excellent ability to meet their ongoing insurance obligations.”
“To be identified as a Super Regional carrier by Insurance Journal Magazine, and then receive both the Ward’s Top 50 and the Excellent A.M. Best rating, demonstrates the financial strength of our company,” said Kevin Prior, president and CEO of ICW Group. “Maintaining a consistently strong rating is a testament to the integrity and hard work of everyone in our company along with the solid relationships we have with our independent agent and broker partners.”
ICW Group is performing particularly well in the auto insurance market. Explorer Insurance, a member company, achieved its 100,000th in-force auto policy earlier this year. Explorer has experienced significant growth, and is forecasting 2009 to be the strongest in company history.
“These prestigious industry recognitions further solidify ICW Group’s position as a leading insurance company,” stated Prior. “And most importantly, these honors help our independent agents and brokers present a financially strong carrier to their clients.”
About Explorer Insurance Company
Explorer Insurance Company offers private passenger auto insurance in California, exclusively through independent agents and brokers. Explorer is a member company of ICW Group, a group of multi-line property and casualty insurance carriers that provide workers’ compensation, earthquake, and personal auto insurance. Explorer is headquartered in Santa Clarita, California. Explorer continues to transform itself into an insurance industry leader dedicated to meeting the needs of its agents and brokers and the people and companies they serve. More information is available at www.explorer-insurance.com.
About ICW Group
Based in San Diego, ICW Group Insurance Companies is the largest privately held insurance company domiciled in California. Quoting over $3 billion annually, ICW Group represents a group of Property, Auto and Workers’ Compensation insurance carriers, including Insurance Company of the West and Explorer Insurance Company. ICW Group is recognized nationally as an industry leader in helping policyholders achieve fewer and less costly claims. ICW Group continues to be committed to meeting the needs of its policyholders and elevating the trusted agents and brokers who advise them. More information is available at www.icwgroup.com.
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