A workers’ compensation insurance provider in Colorado ranks among the top insurance companies in the United States in the latest results of an annual analysis.
Pinnacol Assurance was named to the Ward’s 50 list of the best-performing property and casualty insurance companies.
“Our policyholders expect that we’ll be there for their employees when they need us. Being named in Ward’s Top 50 is proof that we have the solid financial foundation to offer that security,” said Kathy Kranz, vice president and chief financial officer of Pinnacol Assurance.
The annual list, compiled by Aon, ranks insurance providers according to best practices, service and operational and compensation metrics. The award places Pinnacol Assurance in the top 2 percent of the nearly 3,000 insurance providers Aon evaluated.
“In selecting the Ward’s 50, we identified companies that pass financial stability requirements and measure their ability to grow, while maintaining strong capital positions and underwriting results,” said Jeff Rieder, partner and head of Ward benchmarking at Aon.
Aon measured performance indicators for property-casualty insurance providers over a five-year period including those for revenue, average return on total revenue, average return on equity and average return on assets.
Kranz said the recognition validates the company has hit the benchmarks Pinnacol Chief Executive Officer Phil Kalin has set for fiscal stability, reliability and service .
“We’re the stewards of our customers’ policy dollars, and we take that trust very seriously,” Kranz said. “This recognition shows that building strong relationships with our customers and having sound financial strategies in place are the best path to success.”