Recognition places Denver company in top 2 percent of P&C insurers nationwide
DENVER, July 30, 2018 — Recognizing Pinnacol Assurance’s progression from Colorado’s foremost workers’ compensation provider to a nationwide leader in the insurance field, Aon plc named Pinnacol to the Ward’s 50 list of best-performing property-casualty insurance companies in the United States. The annual list ranks insurance providers according to best practices, service, and operational and compensation metrics.
The award places Pinnacol Assurance in the top 2 percent of the nearly 3,000 property-casualty insurance providers Aon plc evaluated.
“In selecting the Ward’s 50, we identified companies that pass financial stability requirements and measure their ability to grow, while maintaining strong capital positions and underwriting results,” said Jeff Rieder, partner and head of Ward benchmarking at Aon, in the report’s release.
Pinnacol Assurance was named to the list this year alongside industry giants such as GEICO and Progressive Insurance Group.
Aon plc measured performance indicators for property-casualty insurance providers over a five-year period. Noteworthy indicators evaluated include:
• Five-year growth in revenue.
• Five-year average return on total revenue.
• Five-year average return on equity.
• Five-year average return on assets.
Pinnacol Assurance Vice President and CFO Kathy Kranz said the recognition validates that the company is hitting the benchmarks CEO Phil Kalin has set for fiscal stability, reliability and service to its customers.
“Our policyholders expect that we’ll be there for their employees when they need us. Being named in Ward’s Top 50 is proof that we have the solid financial foundation to offer that security,” Kranz said. “We’re the stewards of our customers’ policy dollars, and we take that trust very seriously. This recognition shows that building strong relationships with our customers and having sound financial strategies in place are the best path to success.”