HONOLULU – AM Best, a global credit rating agency that focuses on 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 (excellent) or higher for 25 consecutive years.
“After 111 years of protecting local residents and businesses, FICOH’s long-term commitment to Hawaii is as strong as ever,” said Jeff Grimmer, FICOH vice president and treasurer. “Maintaining our A+ rating speaks to our financial strength and ability to be there for our customers, community and Hawaii’s future generations.”
AM 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. FICOH’s superior rating demonstrates its balance sheet strength, profitable operating performance, and strong investment returns.
The rating also considers FICOH’s established market presence as one of the leading insurance companies in Hawaii, and 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, and celebrating its 111th anniversary this year, First Insurance Company of Hawaii, Ltd. is the oldest and largest property and casualty insurer domiciled in Hawaii, with assets of $677 million, liabilities of $423.7 million, and policyholders’ surplus of $253.3 million as of December 31, 2021.
First Insurance, a member of the Tokio Marine North America (TMNA) group of companies, enjoys an “A+” rating from AM 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 2020. In 2021, First Insurance was named Hawaii’s number one 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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