For the eighth consecutive year, LWCC has been named one of the 50 top-performing property-casualty insurers in America.
LWCC was selected as one of the Ward's 50 from over 3,100 property-casualty insurance companies nationwide. The designations are issued annually by Ward Group, a Cincinnati-based management consulting firm acknowledged as the leading authority on benchmarking and best practices services for the insurance industry. Ward Group made the selections after analyzing the financial performance of the more than 3,100 insurers.
"We at LWCC are proud to receive this designation that is based on safety, consistency, and performance," President and CEO Kristin Wall said in a new release issued today. "It is a reflection of our commitment to providing excellent service to our policyholders, injured workers, and agents."
Each Ward's 50 company has passed all safety and consistency screens and achieved superior performance over the five years analyzed, 2004-2008. The Ward's 50 property and casualty insurance companies produced a 14.4 percent return on average equity over the five years compared to 9.9 percent for the property-casualty industry overall.
"Volatility in the investment portfolios, economy and competitive landscape has forced companies to evaluate many of their business strategies," explained Jeff Rieder, president of Ward Group. "In selecting the Ward's 50, we identify companies that pass financial stability requirements and measure their ability to grow while maintaining strong capital positions and underwriting results."
Among the Ward's 50 property-casualty companies are such familiar national names as Travelers Insurance Group, Fireman's Fund Insurance Group, and GEICO.
"The results for the Ward's 50 benchmarks indicate that companies are able to grow the business profitably in changing market conditions," said Rieder.
A complete list of the Ward's 50 property-casualty benchmark group, as well as the Ward's 50 life-health companies, is located on the Ward Group Web site at www.wardinc.com.
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