A.M. BEST UPGRADES SAFECO LIFE TO A++.REDMOND--(BUSINESS WIRE)--June 27, 1995--SAFECO Life Insurance Co. today announced that A.M. Best has upgraded its rating from an A+ to an A++, the highest possible designation. SAFECO Safeco Corporation (NYSE: SAF) is a major American national insurance company. It has naming rights to the Seattle Mariners' baseball stadium, Safeco Field. Safeco was founded in Seattle, Washington in 1923 by Hawthorne K. Life joins a handful of other life insurance companies to hold the A++ rating. "Today, the financial strength and stability of an insurance company are more important than ever to insurance purchasers," said Dick Zunker, president of SAFECO Life. "SAFECO Life understands the significance of this issue and has worked very hard to control the risks inherent in our business. We are pleased that A.M. Best has affirmed af·firm v. af·firmed, af·firm·ing, af·firms v.tr. 1. To declare positively or firmly; maintain to be true. 2. To support or uphold the validity of; confirm. v.intr. our efforts by giving us their top rating." A.M. Best, which started reviewing insurers in 1906, is one of the oldest and most trusted rating organizations in the industry. Best bases its ratings on reviews of qualitative and quantitative factors such as financial results, investment philosophy, marketing focus, agency force and the expertise and experience of management. SAFECO Life, headquartered in Redmond Redmond, city (1990 pop. 35,800), King co., W Wash., a suburb of Seattle, on Lake Sammamish; inc. 1912. Its economy centers around computer software (Microsoft Corp. , Wash., sells individual life, group insurance programs, pension plans and annuities. SAFECO Life has assets of $9.7 billion and is a subsidiary of SAFECO Corp., by revenue one of the largest diversified financial The diversified financial services segment includes a range of consumer and commercially-oriented companies offering a wide variety of products and services, including various lending products (such as home equity loans and credit cards), insurance, and securities and investment service corporations in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. with almost $15 billion in assets. CONTACT: SAFECO Life Insurance Co. Patricia Hillis, 206/545-5771 |
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