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A.M. Best
Ratings
A.M. Best Co. has
affirmed the ratings of State Auto
Insurance Companies of A+ for their
financial strength and aa- for their
issuer credit ratings. State Auto
Financial Corporation received ICR of a-
and a debt rating of a- as well on their
unsecured notes. They say that all ratings
are stable, and that they reflect the
State Auto’s strong capitalization as well
as excellent regional market franchise and
favorable earnings trend.
The only offsetting marks that the group
had was their exposure to localized storms
and an earthquake that came from the New
Madrid fault in the Midwest. There was
also some hurricane activity in the south
which added to it as well. Each of these
factors end up giving the company somewhat
of a strain on their future earnings
because they have to pay out to those in
need.
But the company is assured the ratings
because of their underwriting, pricing,
and claims processes that are disciplined
and professional. Because of that they
have had positive operating results for
the past five years. The companies that
are covered under State Auto Insurance
Company are:
State Auto Florida Insurance Company
Farmers Casualty Insurance Company
Milbank Insurance Company
State Auto Property and Casualty Insurance
Company
State Auto Insurance Company of Wisconsin
State Auto National Insurance Company
State Automobile Mutual Insurance Company
State Auto Insurance Company of Ohio
Meridian Citizens Mutual Insurance Company
Meridian Security Insurance Company
To see the other Best’s Ratings you can go
to their web site at
www.ambest.com/ratings.
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