AM Finest has faraway from underneath overview with constructive implications and upgraded the Monetary Energy Score to A+ (Superior) from A (Glorious) and the Lengthy-Time period Issuer Credit score Rankings to “aa-” (Superior) from “a+” (Glorious) of Everlasting Common Assurance Company, Everlasting Common Assurance Company of Ohio, and Common Car Insurance coverage Firm. The outlook assigned to those Credit score Rankings (scores) is steady. These firms collectively do enterprise as The Common (headquartered in and are newly added subsidiaries of Sentry Insurance coverage Group (Sentry).
The Common’s scores replicate the group’s stability sheet power, which AM Finest assesses as strongest, in addition to its sufficient working efficiency, favorable enterprise profile and acceptable enterprise danger administration.
Sentry acquired The General from American Household Insurance coverage Group for about $1.0 billion in money and consideration. Together with the worth of assumed liabilities and required capital, the full transaction worth was $1.7 billion. The transaction closed on Dec. 31, 2024. The Common and Sentry, by its Dairyland model, have served the non-standard auto (NSA) marketplace for greater than 60 years. The Common has constructed a powerful repute in direct-to-consumer NSA, whereas Dairyland is thought for serving clients by its unbiased agent community. For purchasers, it will imply extra flexibility in selecting how they wish to buy insurance coverage, whether or not by an agent or instantly.
The scores of The Common replicate the strategic place its entities will maintain throughout the group and the execution of an inter-company quota share settlement. Sentry will present vital operational and monetary help to The Common.
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