News

 

AM Best Assigns A- (Excellent) Rating to Synergy Insurance Company

October 29, 2019

AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” to Synergy Insurance Company. The outlook assigned to these Credit Ratings is stable.

Synergy Insurance Company’s balance sheet strength is categorized by AM Best as very strong and risk-adjusted capitalization is categorized as strongest. “The company has been committed to organically strengthening its balance sheet as evidenced by an average combined ratio of 79.4% since the company’s inception over 12 years ago,” says Scott Grant, Treasurer and Chief Financial Officer.

The Company is a workers compensation specialist that offers customized products coupled with leading edge claims management and loss prevention. The integration of claims, loss prevention and underwriting are producing average claim costs that are significantly lower than the workers compensation industry.

Jill Bowyer, Chief Operating Officer commented, “Synergy’s proven track record of lowering experience modifications by reducing claim frequency and claim costs is providing substantial long-term premium savings for our policyholders.”

 

Click here for the AM Best press release.

 

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