A.M. Best Upgrades Issuer Credit Rating of First Guard Insurance Company
Venice, FL (September 13, 2016) – First Guard Insurance Company announced today that A.M. Best Company (Oldwick, NJ) has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “a+” from “a” and affirmed the Financial Strength Rating (FSR) of A (Excellent).
The Long-Term ICR upgrade reflects First Guard’s strong risk-adjusted capitalization, supported by low underwriting and investment leverage, consistently strong underwriting performance and conservative underwriting discipline. The Credit Ratings (ratings) also reflect the company’s expertise in the trucking physical damage and nontrucking liability market segment, targeting leased owner-operators.
“A.M. Best believes we are well positioned at this time, which is driven by our history of long-term stability in our operating performance and business profile along with superior capitalization,” remarked Courtney M. Wilson, President of First Guard Insurance Company. “We are pleased with the upgraded credit rating (ICR) to “a+” as we are moving in the right direction. But, we are still striving for the big A+ (FSR) which we are confident is around the corner,” concluded Wilson.
This year’s A (Excellent) rating marks First Guard’s twelfth (12th) consecutive year for maintaining this rating. That’s something to be very proud of!
Posted: 11/14/2016 2:13:02 PM