American Commerce Insurance, which offers auto insurance, has received an A+ rating from the rating agency Satndard & Poor. According to the press release on the American Commerce website, the financial strength rating from increased from an A on MAPFRE USA’s subsidiaries - Commerce and Citation - and the outlook is promising. They consider the companies to be strategically important and because of this their credit rating has been raised from BBB to BBB+.
AM Best also continues to rate MAPFRE companies as A+ Superior. These high rating are truly key in the success of companies such as American Commerce. Standard & Poor’s report says that the decision reflects their capitalization and states that their future is very strong. The rating agency also says in their report that MAPFRE USA continues to have a strong competitive position in Massachusetts and they have a strong market presences in auto insurance specifically. They carry about 29% of the personal auto insurance market and about 12% of commercial auto insurance products.
This report is a huge success for the company. American Commerce and MAPFRE companies pride themselves on offering superior products and top notch customer service. With their solid book of business, this continues to be the case. The report also highlights the strength of their underwriting discipline and the strong management behaviors.
Written by Sara Smart
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