May 16, 2017
A.M. Best Upgrades Umialik, Members of the Western National Insurance Group to A+ (Superior) Rating
(Anchorage, Alaska) Umialik Insurance Company and the Western National Insurance Group today announced that A.M. Best Company has upgraded the Group’s Financial Strength Rating (FSR) from A (Excellent) to A+ (Superior), effective immediately. This upgrade applies to Western National Mutual Insurance Company and the following wholly owned subsidiaries: Western National Assurance Company, Umialik Insurance Company, Pioneer Specialty Insurance Company, Western Home Insurance Company, Arizona Automobile Insurance Company, American Freedom Insurance Company, and Nevada General Insurance Company.
The Group’s affiliate, Michigan Millers Mutual Insurance Company, was affirmed at its previous FSR of A- (Excellent). The outlook for all Western National Insurance Group ratings (including Michigan Millers Mutual Insurance Company) is Stable.
According to A.M. Best, the rating upgrade reflects the Group’s “excellent level of risk-adjusted capitalization, strong operating performance for an extended period, and its sound business profile.”
“We’re pleased to have the industry’s premier rating organization recognize our Group as a top-tier, ‘superior’-level provider of financial strength for our policyholders,” said Stuart Henderson, President and Chief Executive Officer of the Western National Insurance Group. “This A+ rating reflects the consistent execution of a solid business plan and many years of exceptional work by our employees and agency partners. We look forward to continuing these financial results as we carry out our long-term plan in the service of our Group’s policyholders.”
Founded in 1899, A.M. Best Company is a full-service credit rating organization dedicated to serving the insurance industry. The company is the world’s oldest and most authoritative insurance rating and information source.
Umialik Insurance Company, headquartered in Anchorage, Alaska, has served the property-and-casualty insurance needs of Alaskans since 1981. Umialik is a member of Western National Insurance, a super-regional group of property-and-casualty insurance companies providing personal and commercial coverage in 20 states across the Midwestern and Western U.S. as well as in Alaska; and surety bonds in 32 states. The Group writes over $631 million in Direct Premium through eight active insurance companies—Western National Mutual Insurance Company, Western National Assurance Company, Pioneer Specialty Insurance Company, Western Home Insurance Company, Arizona Auto Insurance Company, Umialik Insurance Company, American Freedom Insurance Company, and Nevada General Insurance Company—and through one affiliate, Michigan Millers Mutual Insurance Company. All of the Group’s products are sold exclusively through professional Independent Insurance Agents.
For further information, please contact:
Steve Norman, CPCU, M.A., AIT
Assistant Vice President – Communications
(952) 921–5680 or (800) 862–6070 Ext. 7680