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 since 1997.
“Our AM Best A+ rating confirms our financial strength and ability to be there for our policyholders in their time of need,” said Jeff Grimmer, FICOH vice president and treasurer. “It gives customers another reason to feel confident when choosing First Insurance for their personal or business insurance needs.”
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. FICOH’s superior rating demonstrates its balance sheet strength, profitable operating performance, and strong investment returns.
The rating also considers FICOH’s deep-rooted 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, First Insurance Company of Hawaii, Ltd. is the oldest and largest property and casualty insurer domiciled in Hawaii, with assets of $666.4 million, liabilities of $399.5 million, and policyholders’ surplus of $266.8 million as of December 31, 2020.
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 300 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 Charitable Foundation. Its charitable giving focuses on four areas: 1) education and career development; 2) family, social services and health care; 3) environment and sustainability; and 4) civic, culture and the arts.