Standard & Poor’s (S&P) Global Ratings increased the financial strength rating of the Delphi companies, including Safety National Casualty Corporation, to A+ with a positive outlook.
According to S&P Global Ratings, the upgrade reflects a change in their assessment of Delphi’s group status to core from highly strategically important, reflecting their view that Delphi has become more integrated into the Tokio Marine Group parent business operations and ongoing strategy. S&P noted that Safety National continues to grow its top line and maintain acceptable statutory combined ratios. This performance is supported by fostering strong and persistent client relationships, as shown by strong retention rates.
“This upgrade is not only a testament to Safety National’s contributions to the Tokio Marine Group, but it also reinforces the security and stability that our insurance and reinsurance partners receive when they trust their business to us,” said Safety National’s CEO, Mark Wilhelm. “I am extremely proud of S&P’s recognition of Safety National’s clear ability to retain long-term clients. It is our relationship-based approach to business and customer service that we believe distinguishes Safety National in the marketplace.”