West Des Moines, Iowa — AM Best Company, a global rating agency focused on the insurance industry, has affirmed Homesteaders Life Company’s financial strength rating of A- (Excellent) with a stable outlook.
“Homesteaders remains dedicated to providing our policy owners and funeral home customers peace of mind with a consistently strong financial profile,” said Homesteaders Executive VP-CFO Steve Pick. “This latest AM Best affirmation represents a significant vote of confidence in our financial management philosophy and our ability to pay policy owner claims today and into the future.”
Pick added that 2023 was a solid year for the company, characterized by continued growth in assets, surplus and sales as well as investments in innovation.
“We continue to build out new tools and partnerships that help connect funeral homes to more consumers while also focusing on strategic investment decisions and our disciplined approach to financial management,” said Steve Shaffer, Homesteaders President, CEO and Board Chair. “We know how important our solid financial position is, not just for our policy holders’ peace of mind, but also for the funeral home customers who rely on us to help them grow through robust preneed programs.”
Shaffer pointed to the company’s two double-digit growth increases in the last 12 months as further evidence of their financial strength. “A rising tide lifts all boats, and we’re pleased to have an investment strategy that allows us to share our success directly with our funeral home customers.”
To learn more, view the company’s most recent annual report of company performance.
Homesteaders Life Company, a mutual company owned by its policy holders, is a national leader providing products and services to help people design a better farewell.
AM Best Company (ambest.com) is the world's oldest and most authoritative insurance rating and information source.
This rating from AM Best is effective May 2024. For the latest rating information, please visit www.ambest.com.
