AAIC has a solid financial foundation and more than 70 years of experience. With $992 million in gross premium written in 2018, we rank among the world’s 50 largest reinsurance groups, as rated by A.M. Best.
American Agricultural Insurance Company is rated “A” (Excellent) by A.M. Best.
CEO Quarterly Update
2019 Third Quarter Results
AAIC’s third quarter results were impacted by a number of catastrophe events and crop losses.
The first of these events was Hurricane Dorian, which made landfall in the Bahamas as a powerful Category 5 hurricane and stalled over the islands, then weakened and moved north along the eastern coast of the United States. Two other catastrophe events hit our international assumed business: Typhoon Faxai and Typhoon Hagibis, both of which struck the same region near Tokyo, Japan.
As of September 30, we have a small underwriting gain for the year of $368,452, with a loss ratio of 80.3% and combined ratio of 99.75%. We ended the quarter with a surplus of $612,537,341 – a loss for the quarter, but a gain of $32,284,756 for the year.