St. Petersburg, Florida, Dec. 27, 2018 (GLOBE NEWSWIRE) -- Bankers Insurance Group, a St. Petersburg-based insurance firm, today announced global rating agency A.M. Best has upgraded the financial strength rating of Bankers Insurance Company and its property/casualty subsidiaries to “B++” from “B+.”
Bankers Insurance Group is a subsidiary of Bankers Financial Corporation and the corporate parent of Bankers’ insurance companies.
According to the A.M. Best press release, “The ratings reflect the balance sheet strength of Bankers and its subsidiaries, which A.M. Best categorizes as very strong … The upgrade reflects sustained improvement in risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), which is categorized as very strong.”
“A.M. Best’s announcement reflects the conservative reinsurance strategy we put in place to maintain our overall financial strength in the face of major hurricanes including Harvey, Irma, Michael, and Florence,” said Robert G. Menke, President, Bankers Insurance Group. “We continue to focus on delivering best-in-class service to our policyholders in the aftermath of a major event. Our response time and claims experience with a live representative is second to none following any major hurricane.”
Bankers Insurance Group has weathered 40+ hurricanes since it began operating in 1976 and is committed to its promise to policyholders to be there after the storm.
About Bankers Insurance Group
Bankers Insurance Group is a subsidiary of Bankers Financial Corporation and the corporate parent of our insurance companies. Bankers Insurance Company offers a variety of property and casualty products and services including homeowners, flood, excess flood, business owners, and specialized products. For more information about Bankers Insurance Group, visit www.bankersinsurance.com.
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