A Message from Our President and CEO: A.M. Best Rating Affirmed for 2023

October 09, 2023

2023 has been an extremely difficult year for property writers in the U.S. and especially in the great State of Texas. High interest rates have had negative impacts on bond portfolios; historic inflation has driven up costs to rebuild or repair damage after a loss; severe storms have increased evidenced by thirty (30) events in Texas alone that were classified as catastrophes by ISO’s Property Claim Service (PCS); and the cost of catastrophe reinsurance has increased as much as 50%.

Given that backdrop, Insurors is especially proud to announce that A.M. Best, the global credit agency specializing in the insurance industry, has once again affirmed the A- (Excellent) ratings with a Stable outlook for Insurors Indemnity Company and Insurors Indemnity Select.

In its report, A.M. Best noted the companies’ very strong balance sheet, 10-year strong operating profitability, favorable loss reserve development and strong liquidity that outperforms the commercial property composite and the overall property and casualty industry. We are especially proud of retaining our rating and stable outlook in light of the downgrades and changes to negative outlooks that some of the major insurance companies have received following these catastrophic events.

Everyone at the Insurors Indemnity Companies takes pride in providing stable insurance and surety products to its policyholders and agents through disciplined underwriting, fast and fair claims service, and conservative investment and operating practices.

–Dave Talbert | President & CEO of Insurors Indemnity Companies