Rating confirms the mutual insurance group’s financial strength and ability to pay customers’ current and future claims.
STEVENS POINT, Wisconsin (July 17, 2023) – 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.