ST. LOUIS–(BUSINESS WIRE)–Safety National, a market leader in providing specialized workers’ compensation solutions for self-insured employers, announced today that its A.M. Best Financial Strength Rating of “A” (Excellent), Financial Size Category (FSC) X, has changed to “A” (Excellent), FSC XI, which designates carriers with a policyholders’ surplus between $750 million and $1 billion.
“This is a great accomplishment for Safety National, coming just two years after we last increased our FSC,” said Safety National CEO Mark Wilhelm. “The increase to FSC XI not only opens the door to new business opportunities for us, but is an important validation of the hard work our company and its employees have put into building our policyholders’ surplus to this level.”
“Our surplus growth can be attributed to solid combined ratios and underwriting results as well as good investment returns since 2008,” said Wilhelm. “This coincides with our long history of growth which includes a 14 percent compound growth rate since 1960.”