AM Best rates Sentry A+ for 32nd straight year

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Jul 25, 2023, 16:08 ET

Rating confirms the mutual insurance group's financial strength and ability to pay customers' current and future claims

STEVENS POINT, Wis., July 25, 2023 /PRNewswire/ -- After concluding its annual review, AM Best assigned Sentry an A+ (superior) rating for a 32nd consecutive year. In doing so, the insurance industry's lead rating authority pointed to the mutual insurance group's "innovative initiatives" as positioning it as a leading commercial casualty writer.

"Our strategy for success involves accessing new markets, investing in new technologies that better serve the business and our customers, and developing a strong talent pipeline," said Pete McPartland, Sentry Chairman of the Board, President, and CEO. "Our efforts, led by a unified management team and dedicated associates, pave a path for a strong future for Sentry—one where we're leading the way in an evolving business landscape."

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.

This past year, elevated inflation, catastrophic weather events, and volatile investment markets strained the insurance industry.

"In a challenging year, Sentry outperformed standards for premium growth and profitability, solidifying our position as one of the best-capitalized companies in the insurance industry," said Todd Schroeder, Chief Administrative Officer and Chief Financial Officer.

The A+ (superior) rating speaks to the soundness of Sentry as a company. In support of the rating, AM Best points to Sentry's balance sheet strength, which it ranks as "strongest" for risk-adjusted capitalization. AM Best also recognizes Sentry's disciplined investment management strategy and consistent operating results, the latter of which is "fueled by management's innovative initiatives."

It also noted Sentry's well-diversified business mix, offering a broad range of commercial and personal property and casualty coverages throughout the U.S.

About Sentry

Sentry Insurance is a part of 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 2023. 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 more than 4,800 associates across the country. See a complete list of underwriting companies at sentry.com.

SOURCE Sentry Insurance