AM Best points to a "favorable" business profile as a reason for the superior rating

STEVENS POINT, Wis.  , July 23, 2024 /PRNewswire/ -- Sentry Insurance has once again earned an A+ rating from AM Best, marking the 33rd consecutive year the mutual insurance group has received this superior rating.

In its annual review, AM Best called Sentry "one of the leading commercial casualty writers in the United States" and described its business profile as "favorable."

Best pointed to Sentry's "well-diversified business mix," "strong brand name recognition," "focused appetites deployed through multiple distribution channels," "cross-selling opportunities with life and annuity products," and "successful track record of executing strategy" as reasons for its rating rationale.

"Our operational and financial success is made possible by the trust our customers place in us, and by the thoughtful decisions our employees make every day in the best interest of policyholders and claimants," said Pete McPartland, Sentry Chairman and CEO. "Sentry continues to benefit from a tremendously diverse book of business, one of the strongest balance sheets in the industry, and having made sound strategic choices over the last several years."

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.

In rankings released in June, Sentry moved into the 643 spot on the Fortune 1000, based on its $4.3 billion in premium revenue for 2023—a healthy 10% increase over 2022. This is Sentry's highest ranking ever, up 134 spots from a decade ago when the insurer was ranked No. 777.

About Sentry

Sentry Insurance is 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 2024. 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 5,000 associates across the country. See a complete list of underwriting companies at sentry.com.

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SOURCE Sentry Insurance