Superior Group of Companies' Crum & Forster Achieves A+ Rating Upgrade from AM Best
- Crum & Forster Insurance Group upgrades to A+ (Superior) FSR, reflecting strong financial health and operational performance.
- C&F reports $5.7 billion in gross written premiums for 2024, driven by growth and employee dedication.
- The upgrade positions C&F for continued growth, innovation, and enhanced market opportunities in the insurance sector.
Crum & Forster Receives Esteemed Upgrade, Reflecting Strong Operational Performance
Crum & Forster Insurance Group (C&F) earns a prestigious upgrade from AM Best, elevating its Financial Strength Rating (FSR) to A+ (Superior) from A (Excellent) and enhancing its Long-Term Issuer Credit Ratings (Long-Term ICRs) to "aa-" (Superior) from "a+" (Excellent). This recognition underscores C&F's robust financial health and operational prowess, positioning the company as a leader in the national property, casualty, and accident & health insurance sectors. The upgrade is attributed to C&F's solid balance sheet, commendable underwriting results, and effective enterprise risk management, all of which have been pivotal as the company navigates a competitive landscape.
In 2024, C&F reports gross written premiums amounting to $5.7 billion, showcasing significant growth driven by both organic expansion and diversification. Arleen Paladino, the Chief Financial Officer, expresses gratitude for this recognition, crediting the commitment and dedication of C&F's employees. Their efforts in delivering innovative insurance solutions have been instrumental in achieving this milestone. The company's culture of teamwork and excellence is a fundamental aspect of its operations, enabling C&F to maintain high-quality service for clients and partners while enhancing its national presence through a network of independent agents, brokers, and wholesalers.
C&F's recent rating upgrade is not only a testament to its operational success but also highlights the insurance industry's evolving landscape. With a stable outlook now affirmed by AM Best, C&F is poised for continued growth and resilience in the market. Furthermore, the financial stability reflected in the upgraded ratings positions C&F advantageously to expand its product offerings and potentially explore new market opportunities. As the company continues to prioritize innovation and customer service, it solidifies its role as a key player in the insurance sector.
In related news, Monitor Life Insurance Company of New York, a subsidiary of C&F, also receives an affirmation of its A (Excellent) FSR and "a+" Long-Term ICR. This acknowledgment points to a very strong balance sheet and stable ratings, positioning the subsidiary for continued growth as it expands its product offerings nationwide. With C&F's commitment to excellence and innovation, both the parent company and its subsidiary are well-equipped to meet the evolving needs of their clients in the insurance market.