Springfield, Mass. (June 30, 2021) – AM Best has affirmed the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Ratings of “aa+” (Superior) for the members of MedPro Group (MedPro), which includes Wellfleet Insurance Company (Fort Wayne, IN), Wellfleet New York Insurance Company (Flushing, NY) and its other affiliates.
These superior ratings reflect MedPro’s balance sheet strength, which AM Best assesses as “strongest”. It also reflects the company’s strong operating performance, favorable business profile, claims-handling philosophy and enterprise risk management.
“In a time where financial strength and stability are increasingly important, we’re pleased to have AM Best acknowledge our strong financial capabilities,” said Drew DiGiorgio, President and CEO of Wellfleet.
The company’s ratings benefit from the explicit and implicit financial support provided by its affiliate, National Indemnity Company and MedPro’s parent company, Berkshire Hathaway Inc. (NYSE: BRK A and BRK B), which is comprised of reinsurance programs, investment opportunities and capital support.
“As a member of the Berkshire Hathaway family, sound financial management and long-term strategic focus are in our DNA. Our partners, clients and members have confidence in our products, services and operations, and know they can count on us to be here for the long run,” DiGiorgio said.
AM Best is a full-service credit rating organization dedicated to serving the insurance industry. The company is the world’s oldest and most authoritative insurance rating and information source. For the latest ratings, visit www.ambest.com.
About Wellfleet – Wellfleet is a Berkshire Hathaway company focused on delivering customer-centric insurance solutions through flexible product offerings and quality service. With an A++ financial strength rating from A.M. Best, Wellfleet’s goal is to protect people against risk throughout every stage of life — from grade school to college, the workplace, and beyond.
Headquartered in Springfield, Mass., Wellfleet was founded in 1993 and is one of the leading providers of health and accident insurance products to the higher education market. Additionally, Wellfleet’s Workplace division delivers high-quality, customizable benefit solutions through a suite of voluntary products, including Accident, Critical Illness and Short-Term Disability Income insurance. For more information, visit www.wellfleetinsurance.com
Wellfleet is the marketing name used to refer to the insurance and administrative operations of Wellfleet Insurance Company, Wellfleet New York Insurance Company, and Wellfleet Group, LLC. All insurance products are administered or managed by Wellfleet Group, LLC. Product availability is based upon business and/or regulatory approval and may differ among states.