HONOLULU – A.M. Best Company, a global credit rating agency that focuses on the insurance industry, has affirmed the superior Financial Strength Rating (FSR) of A+ for First Insurance Company of Hawaii (FICOH).
“I’m proud of FICOH’s long-term commitment to the Hawaii market,” said Jeff Shonka, president and CEO of FICOH. “Our A+ rating speaks to our financial strength and ability to be there for our customers in their time of need.”
A.M. Best’s Financial Strength Rating provides an independent opinion of an insurer’s financial strength and ability to meet its ongoing insurance policy and contract obligations. The rating gives consumers a valuable benchmark for comparing insurers.
FICOH’s superior rating demonstrates the company’s consistently profitable underwriting performance and conservative reserving, strong capitalization, and sound market presence as one of the leading insurance providers in Hawaii.
The rating is based on a comprehensive quantitative and qualitative evaluation of a company’s balance sheet strength, operating performance and business profile. The rating also takes into consideration the support the company has gained as a group company of Tokio Marine Holdings, Inc. since 2011.
About First Insurance Company of Hawaii
Founded in 1911, First Insurance Company of Hawaii, Ltd. is the oldest and largest property and casualty insurer domiciled in Hawaii, with assets of $667.8 million, liabilities of $387.6 million, and policyholders’ surplus of $280.1 million as of December 31, 2018.
First Insurance, a member of the Tokio Marine North America (TMNA) group of companies, enjoys an “A+” rating from A.M. Best Co.
Proud of its broadly experienced, service-oriented staff, First Insurance employs more than 350 insurance professionals and distributes its products through 26 independent general agencies. First Insurance was named 2018 Kupuna Advocate of the Year by Hawaii Meals on Wheels (HMOW) for its exemplary support of HMOW and other organizations that serve seniors. It was also awarded the American Heart Association’s Workplace Health Gold Achievement for 2019.