Clients in the News: ICW Group
ICW Group Insurance Companies Continues To Deliver Strong Financial Performance
Several prestigious recognitions reaffirm carrier's strength and stability
October 13, 2009
SAN DIEGO, Calif. —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 Insurers.
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 ICW Group
Privately held ICW Group is a Super Regional carrier representing a group of multi-line property and casualty insurance companies providing workers’ compensation, surety, earthquake and personal and business auto insurance. Its member companies consist of Insurance Company of the West, Explorer Insurance Company and Independence Casualty and Surety. Based in San Diego, ICW Group 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 insure. More information is available at www.icwgroup.com.