AM Best Affirms Alfa Insurance Rating Of Excellent
Montgomery, Ala. (Dec. 17, 2013) - A.M. Best Co. today affirmed its A (Excellent) financial strength rating for Alfa Insurance and improved its outlook for the company's "a+" issuer credit rating (ICR) to stable.Back to Press Releases
Alfa President and CEO Jimmy Parnell said the ratings reflect the company's efforts to grow capital and expand its coverage areas while refocusing attention on providing superior customer service.
"Alfa is committed to providing affordable home, auto, life and business insurance through a network of helpful, hometown agents," Parnell said. "Despite paying $100 million in spring storm claims, Alfa policyholders benefited from milder weather for much of 2013. Our efforts to increase sales, manage risk, reduce costs and refocus on Alfa's core values ensure we are able to deliver on our promise to customers."
A.M. Best also affirmed the A (Excellent) rating for Alfa Life Insurance Corp. as well as its ICR of "a+." The outlook for both ratings is stable.
With more than a million policies in force, Alfa and its affiliates provide insurance and other financial services in 11 states. Visit www.alfainsurance.com.
A.M. Best is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.