AAIC has a solid financial foundation and more than 70 years of experience. With $1.053 billion in gross premium written in 2017, 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 Second Quarter Results
As of June 30, 2019, we had an underwriting gain of $15,108,309 on $169,945,787 of earned premium. Our six-month loss ratio was 72.4%, with expenses at 18.7% – giving us a six-month combined ratio of 91.1% (compared to 96.5% at June 30 last year).
During the first half of the year, earned premium and investment income performed better than expected, while losses and expenses were both below budget.
Given these good underwriting and investment results, surplus has grown 6.2% so far this year. We ended the second quarter with $616,335,492 of surplus – an increase of $36,082,906 over last year and a strong start as we head into the second half of 2019.