JACKSONVILLE, Fla.--(BUSINESS WIRE)--
A.M. Best Co. has affirmed the financial strength rating (FSR) of “A” (Excellent) and the issuer credit rating (ICR) of “a+” of super-regional property/casualty insurance carrier The Main Street America Group and its nine member companies. The outlook for these ratings is stable.
The Main Street America Group’s member companies are NGM Insurance Company, Old Dominion Insurance Company, Austin Mutual Insurance Company, Grain Dealers Mutual Insurance Company, Great Lakes Casualty Insurance Company, Main Street America Assurance Company, Spring Valley Mutual Insurance Company, MSA Insurance Company and Main Street America Protection Insurance Company.
In its ratings analysis, A.M. Best stated, “The ratings and outlooks reflect Main Street America Group’s focused marketing and branding strategies, disciplined underwriting philosophy and pricing segmentation, and have engendered Main Street America’s solid risk-adjusted capitalization, historically positive operating performance and diversified product offerings.”
Tom Van Berkel, chairman and chief executive officer of Main Street America, said, “We are very pleased with the affirmation of The Main Street America Group’s financial strength and issuer credit ratings. These strong ratings from A.M. Best underscore the solid foundation from which we can continue to profitably grow our organization and achieve our financial goals.”
In 2013, Main Street America surpassed $1 billion in written premium for the first time in its 90-year history. It also increased surplus to $981 million and total assets to more than $2.1 billion.
About A.M. Best
Founded in 1899, A.M. Best Company is the world’s oldest and most authoritative insurance rating and information source. For more information, please visit, www.ambest.com.
About The Main Street America Group
With roots dating back to 1923, The Main Street America Group is a super-regional insurance company which writes business through its nine property/casualty insurance carriers: NGM Insurance Company, Old Dominion Insurance Company, Main Street America Assurance Company, MSA Insurance Company, Great Lakes Casualty Insurance Company, Grain Dealers Mutual Insurance Company, Main Street America Protection Insurance Company, Spring Valley Mutual Insurance Company and Austin Mutual Insurance Company. Based in Jacksonville, Fla., Main Street America offers a wide range of commercial and personal insurance, as well as fidelity and surety bond products, to individuals, families and businesses throughout the United States.
With more than $1 billion in premium written exclusively by 3,000 independent insurance agents, the 91-year-old company insures more than 650,000 policyholders in 36 states and writes bonds in 45 states. A.M. Best Company rates The Main Street America Group with an "A" (Excellent) financial strength rating and “a+” issuer credit rating. Main Street America is the founding company partner of Trusted Choice®, the global branding program of the Independent Insurance Agents & Brokers of America. Main Street America is also a founding company partner of the new independent agency system Consumer Agent Portal (CAP)/TrustedChoice.com and the Insurance Institute for Business & Home Safety (IBHS) Research Center. For more information about Main Street America, please visit our newsroom at http://msagroup.newshq.businesswire.com/ or connect with us on Facebook at www.facebook.com/MainStreetAmerica.
Mark Friedlander, 904-380-7461