Media Contact: Jennifer Mack
Walnut Creek, May 10, 2011
The California State Auto Group, a major provider of AAA-branded insurance, is proud to announce that worldwide insurance ratings agency A.M. Best has renewed its A+ rating with a stable outlook. In addition, the rating of the company’s newly acquired subsidiaries, the former AAA Mid-Atlantic Insurance Group (MAIG), has been upgraded to A+.
“This is a great example of what we set out to accomplish jointly through our acquisition of the AAA Mid-Atlantic Insurance Group,” said California State Auto Group CEO and President Paula Downey. “This affirmation of our A+ rating reflects our capital strength, favorable operating earnings and significant market presence.”
The California State Auto Group offers a full line of insurance products including home, auto, renters’, life, and personal umbrella policies. It is one of the top five insurers in the state of California. Through partnerships with AAA clubs, the company offers AAA-branded insurance in 23 states and the District of Columbia.
According to A.M. Best, as part of the California State Auto Group, MAIG will receive greater financial flexibility, additional access to capital, sophisticated pricing tools and improved technology systems. With the acquisition, the California State Auto Group receives companies with similar AAA brand-name recognition and additional market opportunities.
AAA insurance customers are eligible for all the benefits of AAA membership including emergency roadside assistance, maps, travel, and a wide array of discounts at hotels, car rental chains, restaurants, and traditional and online retail stores. Visit www.aaa.com for more information.
The California State Auto Group offers automobile, homeowners and other personal lines of insurance to AAA members through partnerships with AAA clubs. It is one of the largest personal lines insurance companies in the United States and is rated A+ by A.M. Best.