SWBC Achieves Excellent Recognition Status and Demonstrates Unwavering Financial Stability

PR Newswire

AM Best Awards Credit Ratings to SWBC Property and Casualty Insurance Company and SWBC RE, Ltd.

SAN ANTONIO, April 3, 2024 /PRNewswire/ -- SWBC continues its remarkable journey of resilience and prosperity through strategic initiatives and solid dedication as a beacon of financial stability in the insurance industry.

SWBC Property and Casualty Insurance Company and SWBC RE, Ltd. have achieved significant recognition as both obtained an initial A- (Excellent) rating from AM Best, a global credit rating service provider specializing in the insurance industry. This affirmation highlights our company's unwavering commitment to financial security and is a testament to our parent's, SWBC, longstanding commitment to strength and reliability in the insurance industry.

"SWBC's journey started 48 years ago, and our accomplishments have been extraordinary," remarked SWBC Co-founder and Chairman Charlie Amato. "Although the global landscape has presented challenges, we remain dedicated to excellence and resilience. This steadfast devotion has earned the trust and confidence of our clients, making us stronger than ever. It is proof of our dedication to providing our clients the best possible service and financial security."

"In a world where options abound, being the best fit for our clients isn't just an advantage – it's imperative," added SWBC Co-founder and President Gary Dudley. "By prioritizing their satisfaction and earning their trust, we solidify our position as the go-to partner for their needs, now and in the future."

The ratings received reflect the company's balance sheet strength and appropriate enterprise risk management, amongst other drivers.

"We are thrilled that two more of our insurance companies, SWBC Property and Casualty Insurance Company and SWBC RE, Ltd., have received an A- (Excellent) rating, complementing the current AM Best A- rating held by SWBC Life," said Joan Cleveland, President and CEO of SWBC Life Insurance Company and SWBC Property & Casualty Insurance Company. "Our financial strength rating emphasizes our allegiance and trustworthiness as a reliable partner for our clients."

"At the heart of SWBC's success lies a deep-rooted tradition of reliability and excellence. This tradition is upheld by our leadership, who are dedicated to preserving our legacy of financial strength", said CEO of SWBC RE, Ltd. Jim Pangburn. "As we move forward, our focus remains on embracing innovation, of which we can all be proud."

SWBC Life and SWBC Property and Casualty develop and deliver customized payment protection programs for both financial institutions and auto dealerships, tailored specifically to each account. SWBC RE, Ltd. has been a long-standing reinsurer of debt cancellation programs and is now poised to expand its reinsurance capabilities.

Looking ahead, SWBC is well-positioned for continued success and growth. By maintaining its tradition of stability and excellence, the company continues to set the standard for the insurance industry and remains a beacon of reliability in uncertain times.

About SWBC
As a diversified financial services company, SWBC provides financial institutions, businesses, and individuals with a wide range of insurance, mortgages, wealth management, employee benefits, and more. Headquartered in San Antonio, Texas, SWBC has partners and divisions across all 50 states and manages business around the world. No matter how wide its reach, SWBC always listens to our customers' needs, analyzes their current situations, and recommends customized solutions. For more information about our innovative approach to personalized service, visit SWBC's website at www.swbc.com.