A.M. Best reaffirms A- (excellent) rating on the companies of Motorists Insurance Group and BrickStreet Mutual Insurance Group
Recently, A.M. Best released their ratings of Motorists Insurance Group, which includes the companies of BrickStreet Mutual Insurance Group. Our two companies completed our affiliation in April 2017, and A.M. Best rated Motorists and BrickStreet together as our pooling agreement went into effect on Jan. 1, 2018.
A.M. Best has reaffirmed our A- (excellent) with a stable outlook rating. As we continue to integrate our operations, we remain confident and excited for the future of our group of companies. In their report, A.M. Best stated we have a strong level of risk-adjusted capitalization, a long-term history of reporting favorable loss reserve development, and a portfolio of risks that is well diversified.
“We appreciate A.M. Best’s acknowledgement as we continue to become one company,” Motorists CEO Dave Kaufman said. "We recognize our transformation has brought on some short-term challenges, but given our financial strength and broad capabilities, there has never been a better time to be associated with our group of companies."
Our operations include 16 companies supported by 10 offices writing in 28 states and the District of Columbia, premiums of nearly $1.1 billion, surplus of $1.46 billion and assets of $4.1 billion. A.M. Best highlighted our improved risk diversification and an expanded independent agency distribution network as strengths, which allow us to compete as a super-regional carrier to deliver superior customer service to our agents and policyholders.
“As we continue to transform, we have gotten off to a great start in 2018," Motorists President and COO T.J. Obrokta, Jr. said. "We have a solid foundation with our commercial lines, personal lines and workers’ compensation profit centers aligned to be even more successful into the future. We appreciate the support of all our agents, policyholders and associates and look forward to continuing to build on our long-lasting relationships."
In addition, Motorists Life was reaffirmed last week by A.M. Best with an A- rating with a stable outlook.