HONOLULU – AM Best, a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry, has reaffirmed the superior A+ Financial Strength Rating (FSR) for First Insurance Company of Hawaii (FICOH). FICOH has maintained a FSR rating of A+ (superior) for more than 10 consecutive years.
AM Best’s FSR provides an independent opinion of an insurer’s financial strength and ability to meet its ongoing insurance policy and contract obligations. FICOH’s superior rating demonstrates its strong balance sheet, operating performance, and enterprise risk management (ERM), and takes into consideration the support provided by its parent, Tokio Marine Holdings, Inc.
“The reaffirmation of our A+ rating recognizes our responsible approach to business,” said Jeff Grimmer, FICOH vice president and treasurer. “More importantly, it speaks to our long-term commitment to the Hawaii market and ability to be there for our policyholders in their times of need.”
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 $699.1 million, liabilities of $430.4 million, and policyholders’ surplus of $268.7 million as of December 31, 2022.
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 250 insurance professionals and distributes its products through 26 independent general agencies. First Insurance was awarded the American Heart Association’s Workplace Health Gold Achievement for 2022. In 2023, First Insurance was named one of Hawaii’s Best Places to Work in the “large company” category by Hawaii Business magazine.
First Insurance supports many local organizations through monetary donations made at the corporate level, by its associates and the First Insurance Foundation. Its charitable giving focuses on four areas: 1) family, social services and health care; 2) education and career development; 3) environment and sustainability; and 4) civic, culture and the arts.
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About AM Best
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
