Merchants Insurance Group is proud to announce they have been named as one of Ward’s 50 top-performing insurance companies in the United States. The announcement was made virtually on Tuesday, July 20, 2021.
Each year, Ward’s, an AON company and the leading provider of benchmarking and best practices studies for insurance companies, names 50 companies to its list each year from nearly 2,900 property-casualty insurance companies domiciled in the United States.
“We are truly honored to be recognized by Aon Ward’s benchmarking as one of the Ward’s Top 50 Property Casualty carriers,” said Charles Makey, Merchants President. “It is a tribute to the outstanding efforts of our colleagues and independent agents that we earned this prestigious award.”
The companies named to the Ward’s 50 company list have passed all safety and consistency screens and achieved superior performance over the five years analyzed.
In order to be named to the list, Ward’s examines key safety and consistency measurements and performance tests such as:
- Surplus and premiums of at least $50 million
- Net income in at least 4 of the last 5 years
- Risk-based capital ratio of at least 100% for each of the 5 years analyzed
- Compound annual growth in premiums between -10% and 40%
- Rank in the top 10 of peer business mix benchmark group.
Companies that make the list are those that also pass other financial stability requirements and measure their ability to grow while maintaining strong capital positions and underwriting results. To be awarded the Ward’s 50 designation, insurance companies must pass these thresholds of performance.
For complete information on how the list is compiled, please visit ward.aon.com.
About Ward Benchmarking
Ward’s is the provider of benchmarking and best practices studies for the insurance industry. Their team analyzes staff levels, compensation, business practices, and expenses for all areas of company operations and helps insurers to measure results compared to peer groups, optimize performance, and improve profitability. Since 1991, they have performed more than 3,000 operational and compensation benchmarking exercises for companies of all sizes, including more than half of the top 100 U.S. insurance carriers. For more information, please visit ward.aon.com.
Aon plc (NYSE:AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Their 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance. For further information on their capabilities and to learn how they empower results for clients, please visit http://aon.mediaroom.com.