Safety National Casualty Corporation announced today that A.M. Best has upgraded the Company’s financial strength rating to A++ (Superior) from A+ (Superior).
A.M. Best assesses and assigns A++ ratings to insurance companies that they believe have a superior ability to meet their ongoing insurance obligations. According to A.M. Best, Safety National’s ratings reflect its balance sheet strength, categorized as strongest, and its strong operating performance, neutral business profile and very strong enterprise risk management. As a subsidiary of Delphi Financial and Tokio Marine, the rating upgrade is also a result of Safety National’s increasing strategic role in the group and reflects the commitment from both organizations to support ongoing operations. Further, A.M. Best cites Safety National’s strongest level of risk-adjusted capitalization, historically profitable overall operating performance and specialized market profile as an industry leader in excess workers’ compensation.
“Less than three percent of insurance organizations have earned an A.M. Best A++ rating, so this is a significant milestone for Safety National,” said CEO Mark Wilhelm. “Not only does it reward our unwavering dedication to excellence, but formally recognizes the security that Safety National provides to our brokers, insureds and reinsureds. For nearly 80 years, we have made strategic organizational enhancements that helped to lead us to this distinction, however, it is one that we could never have achieved without the support of our dedicated employees, loyal customers and our parent companies, Delphi Financial Group and Tokio Marine.”