A.M. Best Affirms Ratings of Auto-Owners Insurance Company and Its Subsidiaries
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These companies comprise the
The ratings reflect AOIG's superior capitalization, historic trend of solid operating income, experienced management team, blend of personal and commercial product offerings and long-standing agency relationships. In addition, AOIG has strong risk management techniques and a well-established market position.
These positive rating factors are partially offset by AOIG's modest premium growth over the recent five-year period, weakened but improving performance in its underwriting results and concentration of business in
The ratings for AOLIC recognize its risk-adjusted capitalization, which is more than adequate to support its insurance and business risks, positive growth trends in capital and surplus, moderating fixed annuity sales, strong regional market presence and its strategic value to AOIG.
Offsetting these positive rating factors are AOLIC's high percentage of reserves in interest-sensitive products, exposure to spread compression as low interest rates persist, challenges related to the performance of its commercial mortgage loan portfolio and its geographic concentration as nearly half of its total premiums are generated from
While
The FSR of A++ (Superior) and ICRs of "aa+" have been affirmed for
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The methodology used in determining these ratings is Best's Credit Rating Methodology, which provides a comprehensive explanation of
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