Ward Group's Top 50 Performing Insurance Companies
Which Insurance Companies Make the Cut?
If you had the choice, wouldn’t you want to choose an insurance company for your needs that is among the top performers in the insurance industry? This would be a company that has adequate financial reserves to pay any claims you may have and has consistently performed well financially. What would be even better is if someone did the research for you and just told you which companies were the best of the best. Well, someone has done this for you already. The Ward Group produces a “Ward’s Top 50 List” for both life & health insurers and property & casualty insurers each year.
By using this information along with the information you gather from insurance rating organizations, you will be in a better position to find a company who can handle all your insurance needs.
The Ward Group is an insurance research company that analyzes over 3,000 property & casualty insurers and 800 life & health insurers each year. From this detailed analysis, the company publishes the “Ward’s Top 50 List.” The Ward Group has been publishing the top performing insurance companies since 1991. In addition to these free lists, the company also has detailed customized reports of each company listed available to order.
Ward Group’s parent company is McLagan Aon Hewitt, a well-known financial services company. McLagan has performed benchmarking services throughout the world for almost fifty years. The top alliance partners of the Ward Group include The Insurance Accounting & Systems Association (IASA), the National Association of Mutual Insurance Companies (NAMIC) and the Property Casualty Insurers Association of America (PCI). The Ward Group has over 200 employees in its financial services sector and a dedicated group who focuses on the insurance industry.
The company’s corporate office is located in Cincinnati, Ohio.
Ward’s Top 50 Certification Process
To be listed on the Ward’s Top 50 list, an insurance company must undergo a deep analysis and pass performance measurement tests. To be eligible for the Ward’s Top 50 list, an insurance company must have been in business at least five years. The companies who qualify for the Ward’s Top 50 List are judged on equity, assets, total revenue and growth in surplus for the past five years. Here are other criteria for being selected as a top-performing insurance company:
- $50 million surplus for each of the five years analyzed
- A risk-based capital ratio of 150% or greater
- The growth rate of premiums must be -10% to +40%
- Pass an evaluation of company operations
- Ranked in top 10% of peer business group
The Bottom Line
The Ward Group does not assign a letter grade rating for insurance companies in the way other rating organizations do such as A.M. Best, Standard & Poor’s and Fitch’s rating services. What the company does is compile a list for consumers of the top performing insurance companies in both the life & health and property & casualty categories. There are no complicated rating systems for you to figure out – either a company made the list or they did not. How simple is that? With the detailed analysis applied to insurance companies by the Ward Group, you can be sure if your company is on the Ward’s Top 50 List, it is a top performer in the insurance industry.
This information can make you feel more at ease by knowing you are buying insurance through a trusted carrier. To learn more about Ward Group top 50 lists and other research and analysis services available, you can visit the Ward Group website or call 513.791.0303.
If you think your insurance company is not making the grade, perhaps it is time to consider shopping for a new insurance company that better fits your needs. One great place to start your search is through insurance comparison websites such as NetQuote, US Insurance Online or Compare.com.