SAN ANTONIO– SWBC Property and Casualty Insurance Co. and SWBC RE, Ltd. are reporting both have obtained an initial A- (Excellent) rating from AM Best, the global credit rating service provider that specializes in the insurance industry.
The company said the affirmation highlights its “unwavering commitment” to financial security and is a testament to the longstanding commitment of its parent company, SWBC, to strength and reliability in the insurance industry.
"SWBC's journey started 48 years ago, and our accomplishments have been extraordinary," SWBC Co-founder and Chairman Charlie Amato said in a statement. "Although the global landscape has presented challenges, we remain dedicated to excellence and resilience. This steadfast devotion has earned the trust and confidence of our clients, making us stronger than ever. It is proof of our dedication to providing our clients the best possible service and financial security."
Added SWBC Co-founder and President Gary Dudley, "In a world where options abound, being the best fit for our clients isn't just an advantage – it's imperative. By prioritizing their satisfaction and earning their trust, we solidify our position as the go-to partner for their needs, now and in the future."
Balance Sheet Strength
The company said the ratings received reflect the company's balance sheet strength and appropriate enterprise risk management, amongst other drivers.
"We are thrilled that two more of our insurance companies, SWBC Property and Casualty Insurance Company and SWBC RE, Ltd., have received an A- rating, complementing the current AM Best A- rating held by SWBC Life," said Joan Cleveland, president and CEO of SWBC Life Insurance Company and SWBC Property & Casualty Insurance Co. "Our financial strength rating emphasizes our allegiance and trustworthiness as a reliable partner for our clients."
SWBC Life and SWBC Property and Casualty develop and deliver customized payment protection programs for both financial institutions and auto dealerships, tailored specifically to each account. SWBC RE, Ltd. has been a long-standing reinsurer of debt cancellation programs and is now poised to expand its reinsurance capabilities.
‘Deep-Rooted Tradition’
"At the heart of SWBC's success lies a deep-rooted tradition of reliability and excellence. This tradition is upheld by our leadership, who are dedicated to preserving our legacy of financial strength,” said CEO of SWBC RE, Ltd. Jim Pangburn. "As we move forward, our focus remains on embracing innovation, of which we can all be proud."
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