JUPITER, Florida (March 24, 2011) — State Farm Mutual Automobile Insurance Company, Allstate Insurance Company and Federal Insurance Company are among the nation’s strongest property and casualty insurers with assets of $15 billion and greater, according to the latest quarterly review by Weiss Ratings, the nation’s leading independent provider of bank, credit union and insurance company ratings. Meanwhile, Nuclear Insurance and State Farm Florida Insurance Company are the largest companies on Weiss Ratings’ list of the weakest property and casualty insurers.
Weiss Ratings covers 1,604 property and casualty insurers, assigning a Financial Strength Rating from A+ to E- to each, based on capitalization, investment safety, profitability, liquidity, stability and other factors. Weiss Ratings found that 92, or 5.7%, of all property and casualty insurers received a rating of B+ and higher, while 19%, or 304, insurers merited inclusion in Weiss Ratings’ Weakest List, with a Weiss Rating of D+ or lower.
Large property and casualty insurers on Weiss Ratings’ Strongest List (with a Weiss Financial Strength Rating of B+ or higher) include:
In contrast, large property and casualty insurers on the Weakest List (with a Weiss Financial Strength Rating of D+ or lower) include:
To view Weiss Ratings’ free list of the strongest and weakest homeowners, auto or business insurance companies, consumers should visit www.weissratings.com/homeowners.
About Weiss Ratings
Weiss Ratings, the nation’s independent provider of bank, credit union and insurance company financial strength ratings, accepts no payments for its ratings from rated institutions. It also distributes independent investment ratings on the shares of thousands of publicly traded companies, mutual funds, closed-end funds and ETFs.
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Note to Editors: State-specific lists of property and casualty ratings are available upon request.
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Is Geico a strong or weak auto insurer or mid. of the road? Thanks for the info., EW Germon
@ Elizabeth Germon,
GEICO (Government Employees Insurance COmpany) is on the list of the 7 STRONGEST insurers. In the list above it is the last company listed as the strongest.
I don’t think Warren Buffett would have his company be any other way. GEICO is a wholly owned subsidiary of Berkshire Hathaway, which is Warren Buffett’s masterpiece.
2 of those 3 insurance companies have the worst record for complaints in WA ST according to the State Insurance Commissioners Office.
I am having difficulty using the search option. How is Farmer’s Insurance Group rated? I have their home insurance, auto insurance and life insurance.
My first thought about State Farm Florida is that their assets are low because they had big payouts due to bad weather there. Hurricanes. And now tornadoes.
What is the rating for Safeco Insurance? I have auto and home insurance with them.
Thank you ,
David Thomas
You rate State Farm IL as B+, and State Farm FL as D. What is / where can I find out the rating of State Farm CA?
What is the rating for Mass Mutual Life?
Is USAA Insurance strong?
I have followed your comments for many years. I find your recommendations on Direct Writing Companies a little misleading. Allstate has just taken a huge rate increase in our state. People dealing with Independents who can shop coverage have a choice and many more coverage options. These carriers spend millions advertising each year on Super Bowl Etc. The consumer is better served where an agent can offer him options and face to face contact. How can a direct writer be an advocate for the consumer when his only paycheck comes from that carrier. We don’t write for any companies below A- (AMBest) and this is one of the best sources for the consumer to check. No consumer would shop in a grocery store that only offered Cocoa Puffs. (no choice) But the media and advertising has gotten the consumer to purchase one of the most important products (asset protection) in this manner. One carrier through clever advertising has convinced consumers that insurance is a commodity that comes in a box. Each consumer’s needs are different and they need the skill of a professional agents. Just as important as financial advisors, accountants, and lawyers.