WATERLOO, ON, April 9, 2014 /CNW/ - Economical Insurance announced today
that A.M. Best has reaffirmed the financial strength rating of "A-
(Excellent)" and issuer credit ratings of "a-" for Economical Mutual Insurance Company and its wholly owned subsidiary, Waterloo Insurance Company. The outlook for all ratings is stable.
"We are pleased with A.M. Best's continued recognition of our excellent
financial strength and strong operating performance," said Karen Gavan,
Economical's president and chief executive officer of Economical
Insurance. "This will further reinforce the confidence of our customers
and broker partners that we will be there when they need us most."
In its rating announcement, A.M. Best continues to acknowledge the
company's focused marketing and branding strategies, disciplined
underwriting philosophy and pricing segmentation, solid risk-adjusted
capitalization, historically positive operating performance,
diversified product offerings and established Canadian market presence
For more information about A.M. Best's ratings, visit ambest.com.
Founded in 1871, Economical Insurance is one of Canada's leading
property and casualty insurers, with $1.9 billion in annual premium
volume and $5.1 billion in assets as at December 31, 2013. Based in
Waterloo, this Canadian-owned and operated group services the insurance
needs of more than one million customers across the country. In 2010,
Economical announced its decision to become the first
federally-regulated mutual property and casualty insurance company to
pursue demutualization. Economical Insurance conducts business under
the following brands: Economical Insurance, Economical, Western
General, Economical Select, Perth Insurance, Family Insurance
Solutions, Federation Insurance and Economical Financial.
SOURCE: Economical Insurance
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