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By Staff Reports
(Honolulu)– First Insurance Company of Hawaii (FICOH) has been named to the 2013 Ward’s 50 group of top-performing property and casualty insurance companies. This is the fifth consecutive year that FICOH has earned this distinction.
FICOH’s being named to the 2013 Ward’s 50 list comes after the upgrade of FICOH’s Financial Strength Rating (FSR) by A.M. Best earlier this year. Rated “A+” (superior), FICOH currently has the highest FSR among property and casualty insurance carriers based in Hawaii.
The Ward Group, a leader of benchmarking and best practices services for the insurance industry, analyzes more than 3,000 property and casualty companies in the United States each year and lists the top companies as the “Ward’s 50.” The 2013 Ward’s 50 list recognizes companies that have achieved outstanding financial results in the areas of safety, consistency and performance over the preceding five-year period (2008 to 2012).
“We are proud and honored to be named among the top 2 percent of the nation’s P&C insurance companies,” said Allen Uyeda, First Insurance president and CEO. “I would like to thank our associates, independent agency partners and policyholders for making our inclusion on the Ward’s 50 list possible and for contributing to our strength and long-term success in the Hawaii market and community.”
Founded on August 11, 1911, First Insurance Company of Hawaii, Ltd. is the oldest and largest property and casualty insurer domiciled in Hawaii, with assets of $646.9 million, liabilities of $360 million and policyholders’ surplus of $286.9 million as of December 31, 2012. First Insurance, a member of the Japan-based Tokio Marine Group, enjoys an “A+” (superior) rating from A.M. Best Co., whose ratings are widely recognized as a benchmark of an insurer’s financial strength. Proud of its broadly experienced, service-oriented staff, First Insurance employs more than 300 insurance professionals and distributes its products through 29independent general agencies. It has claims personnel on Oahu, Kauai, Maui and the Big Island.
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