ST. PETERSBURG, FLORIDA – November 14, 2016
Bankers Insurance Group, a St. Petersburg-based insurance firm, today announced insurance ratings agency A.M. Best has revised the outlooks for Bankers Insurance Company and its property and casualty subsidiaries to Positive from Stable and affirmed the financial strength rating of “B+.”
Bankers Insurance Group is a subsidiary of Bankers Financial Corporation and the corporate parent of Bankers’ insurance companies.
According to the A.M. Best press release, “The revised outlooks reflect Bankers’ numerous underwriting actions and an effective refinement of operations resulting in improved risk-adjusted capitalization and process efficiencies … Additionally, surplus has increased at a greater rate than net written premiums, driven more recently by underwriting income, which has supported the company’s capitalization position as measured by Best’s Capital Adequacy Ratio (BCAR).”
“A.M. Best’s announcement is a meaningful step forward and a strong endorsement of our company and its associates,” said John A. Strong, Chairman and CEO, Bankers Financial Corporation. “The positive outlooks affirm our recent strategies within Insurance and position us to achieve and sustain a strong level of profitability.”
Bankers Insurance Group is currently celebrating its 40th Anniversary.
About Bankers Financial Corporation
Bankers Financial Corporation is a 40-year old private, diversified financial services company based in St. Petersburg, FL. The 750 associates at Bankers offer outsourcing solutions for claims, policy and flood products for insurers; insurance tracking for lenders; human resources solutions as a professional employer organization for small business; warranties for consumer electronics and new homes; insurance and maintenance services for properties, businesses and builders; and surety bonds for bail.
Bankers Financial Corporation ranks #22 out of 200 companies in the Tampa Bay Business Journal’s latest list of the largest private companies in Tampa Bay.