CAMICO Responds to A.M. Best Rating Announcement
Insurance Carrier’s Financials Remain ‘Good, Stable and Secure’
CAMICO financials remain sound after five consecutive years in which CAMICO’s net income and policyholder surplus grew. All key financial ratios have not only returned to the normal levels of the years prior to 2008, but these ratios have improved to levels greater than the best years in CAMICO’s history.
CAMICO is also continuing to resolve older legacy claims still open from the years before 2009, when the CAMICO operating structure was enhanced. Recent volatility from those years has prompted
A key result of CAMICO’s enhanced operating structure is its new strategic relationship with Berkley Design Professional Underwriters (BDP), a
The CAMICO board of directors and leadership team will continue to take steps to raise the rating, strengthen surplus, control costs, improve profitability, and further embed superior policyholder service into the company culture. Our focus will remain on:
1) continued expense management;
2) promoting loss prevention and risk management processes;
3) diversification of risk by growing the CAMICO and CAMICO-BDP programs; and
4) growing our share in all states where we operate.
CAMICO maintains a strong reinsurance program supported by A-rated reinsurers and remains committed to its mission of protecting, advising and solving problems for CPAs.
About CAMICO
CAMICO delivers insurance, risk management and related services to more than 8,400 CPA firms and 53,000 staff members in 45 states and the
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CAMICO
925-324-1369 - mobile
[email protected]
www.camico.com
Source: CAMICO
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