RetailFirst Insurance Group Insurers AM Best Outlook Improved to Positive

Wednesday, June 18, 2025 | 200 | 0

Lakeland, Fla. (June 18, 2025) - RetailFirst Insurance Group® announced today that AM Best has revised the outlooks of its insurers, RetailFirst® Insurance Company and BusinessFirst Insurance Company®, from stable to positive. The financial strength rating of A- (Excellent) has also been affirmed.

AM Best states:

The positive outlooks reflect the sustained improvement in RetailFirst Insurance Group's operating performance, which AM Best assesses as adequate, driven by strong underwriting gains in each of the past five years, which has trended toward peers that AM Best assesses with a strong operating performance. In 2024, RetailFirst Insurance Group generated a net underwriting gain of approximately $11.7 million, which resulted in an overall combined ratio of 92.8%. RetailFirst Insurance Group's improved underwriting results over the most recent five-year period reflect favorable loss experience, as well as quicker claim closure rates and favorable reserve releases. Additionally, despite continued rate decreases throughout the group's operating territory, RetailFirst Insurance Group's five-year compound annual growth rate in direct written premium is 5.7%. The positive outlooks further reflect AM Best's expectation that RetailFirst Insurance Group's operating performance will continue to benefit from favorable underwriting results and outperform similarly rated peers.

Thomas Petcoff, RetailFirst chairman and CEO, says, "Our company's outstanding financial performance is a testament to our commitment to excellence. We're focused on our mission to provide a stable, financially secure market for our policyholders and their agents, paired with unmatched customer service."

About RetailFirst and BusinessFirst

Together RetailFirst and BusinessFirst insure more than 11,500 businesses throughout Florida, Georgia, Indiana, Kentucky, North Carolina, South Carolina, Tennessee, and Virginia.

RetailFirst Insurance Group Contact

Thomas S. Petcoff

PO Box 2007

Lakeland, FL 33806

863-768-6777