Springfield, Mass. August 7, 2023 – 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.
AM Best’s A++ Superior rating is the highest possible rating and reflects MedPro’s strong operating performance, prudent risk management practices, and ability to meet financial obligations.
“We are thrilled to be recognized again by AM Best,” said Drew DiGiorgio, CEO of Wellfleet Insurance. “This recognition is a testament to our sound operating strategies and 100-year outlook. It reinforces our position as a trusted long-term partner and confirms our unwavering commitment to student healthcare, workplace benefits, and special risk industries.
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.
For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
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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 AM 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, Hospital Indemnity 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.
