DES MOINES, Iowa–(BUSINESS WIRE)–American Enterprise Group, Inc. (AEG) announced today that AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) of its six insurance company subsidiaries. These subsidiaries operate under the brands of American Republic®, Medico®, and Great Western Insurance Company (GWIC®). With the upgrade, the outlook of these Credit Ratings has been revised to stable from positive.
“During a time when financial strength and stability is even more critical, we are especially honored to have AM Best acknowledge our strong financial profile with an upgrade. This is an affirmation of all the good work we are accomplishing to impact long-term trends in a positive direction and provides great momentum as we move forward,” said Tom Swank, AEG’s Chief Executive Officer.
AM Best ratings are based on a company’s financial strength, operational performance over several years, business profile, and risk management practices. According to AM Best, AEG’s rating upgrade reflects the group’s sustained growth in balance sheet strength, including maintenance of risk-adjusted capitalization at the strongest level and its high-quality investment portfolio.
“Our customers can rest assured knowing our long-term sustainability and capital strength allows us to keep our promises while continuing to evolve well into the future. In addition, our distribution partners can be confident that we have the necessary resources to facilitate growth and support their business for years to come,” Swank stated.
Founded in 1899, AM Best is a full-service credit rating organization dedicated to serving the insurance industry. The company is the world’s oldest and most authoritative insurance rating and information source.
For the latest ratings, visit www.ambest.com.
About American Enterprise Group, Inc.
American Enterprise Group, Inc., has six insurance company subsidiaries under the American Republic®, Great Western Insurance Company (GWIC®), and Medico® brands. These companies distribute Medicare supplement, dental, hospital indemnity, short-term care, cancer, preneed, and final expense insurance products through various distribution channels and are licensed in 49 states plus the District of Columbia. American Enterprise is based in Des Moines, Iowa, and employs approximately 450 people. For more information, visit www.americanenterprise.com.