The Service Insurance Company starts the new year with affirmations from rating agency A.M. Best*. On January 4th 2024, A.M. Best upheld Service's "A" (Excellent) rating with a stable outlook.
Highlights from A.M. Best's rating report:
Balance Sheet Strength: Very Strong
• Strongest level of risk-adjusted capitalization as measured by Best's Capital Adequacy Ratio.
Operating Performance: Strong
• The five and ten-year pretax return on revenue, loss ratio and combined ratio averages outperform the composite.
• Service is expected to sustain its very strong overall balance sheet strength driven by a conservative capital management philosophy as well as strong operating performance supported by prudent underwriting and positive investment returns.
For over thirty years, The Service Insurance Company has specialized in providing superior, customized surety bond solutions.
Service has issued bid and performance bonds with limits up to $5,000,000 without requiring CPA reviewed financials. We enjoy working with clients and engage in rational decision making beyond just reviewing financial statements.
Service also issues developer sub-division, site improvement and utility bonds, as well as court bonds, including estate, appeal, release of lien, restraining order and replevin bonds.
The Service Insurance Company holds a certificate of authority with the United States Department of the Treasury and is approved to write performance and payment bonds for federal projects.
For more information, or to get a link to send to your client to apply online, please visit: www.GetMyBondNow.com
*A.M. Best's Rating Reports do not constitute, either expressly or implied, an endorsement of The Service Insurance Company’s products or services. A.M. Best's Ratings are under continuous review and subject to change and/or affirmation. To confirm the current rating, please visit A.M. Best's website, www.ambest.com.
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