AM Best points to a "favorable" business profile as a reason for
the superior rating
STEVENS
POINT, Wis. , July 23,
2024 /PRNewswire/ -- Sentry Insurance has once again
earned an A+ rating from AM Best, marking the 33rd consecutive year
the mutual insurance group has received this superior rating.
AM Best points to Sentry's "favorable"
business profile as a reason for issuing the A+ (superior)
rating.
In its annual review, AM Best called Sentry "one of the leading
commercial casualty writers in the United
States" and described its business profile as
"favorable."
Best pointed to Sentry's "well-diversified business mix,"
"strong brand name recognition," "focused appetites deployed
through multiple distribution channels," "cross-selling
opportunities with life and annuity products," and "successful
track record of executing strategy" as reasons for its rating
rationale.
"Our operational and financial success is made possible by the
trust our customers place in us, and by the thoughtful decisions
our employees make every day in the best interest of policyholders
and claimants," said Pete
McPartland, Sentry Chairman and CEO. "Sentry continues to
benefit from a tremendously diverse book of business, one of the
strongest balance sheets in the industry, and having made sound
strategic choices over the last several years."
Fewer than 10% of U.S.-based property and casualty insurance
companies earn the A+ rating—even less have achieved it for more
than three straight decades.
In rankings released in June, Sentry moved into the 643 spot on
the Fortune 1000, based on its $4.3
billion in premium revenue for 2023—a healthy 10% increase
over 2022. This is Sentry's highest ranking ever, up 134 spots from
a decade ago when the insurer was ranked No. 777.
About Sentry
Sentry Insurance is one of the largest and most financially
secure mutual insurance groups in the
United States, holding a Financial Strength Rating of A+
(superior) from AM Best, current as of June
2024. See
ambest.com/ratings/guide.pdf for rating information.
Sentry and its subsidiaries sell property and casualty insurance,
life insurance, annuities and retirement programs for business and
individuals throughout the country. Headquartered in Stevens Point, Wisconsin, Sentry employs 5,000
associates across the country. See a complete list of underwriting
companies at sentry.com.
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SOURCE Sentry Insurance