Recognition lists Pinnacol among industry giants
DENVER, Aug. 4, 2021 — For the fourth consecutive year, and despite the financial challenges of a global pandemic, Pinnacol was included on Ward's 50® list of best-performing property and casualty insurance companies in the United States, selected by benchmarking analysts at Aon. The annual list is based on superior financial performance over the past five years.
The award also places Pinnacol in the top two percent of the nearly 2,900 property and casualty (P&C) insurance carriers Aon evaluated. Companies that appear on the annual list are considered national leaders in insurance, and the 2021 list names Pinnacol alongside industry giants such as Travelers, Hartford and Progressive Insurance Group.
Companies on the list outperform the industry in five key factors:
- Financial stability
- Revenue growth
- Capital/surplus positions
- Underwriting results
- Financial returns
To be eligible for Ward’s 50, each company must first pass primary safety and consistency tests, including:
- Surplus and premiums of at least $50 million for each of the five years analyzed
- Net income in at least four of the last five years
- Compound annual growth in premiums between -10 percent and +40 percent
Each company that passes those tests is then measured and scored on the following elements:
- Five-year average return on average equity
- Five-year average return on average assets
- Five-year average return on total revenue
- Five-year growth in surplus
- Five-year average combined ratio
“We are proud of our performance, especially this past year, and to have earned this coveted position on the Ward 50 once again,” said Phil Kalin, Pinnacol’s president and CEO. “Our commitment to the businesses and workers of Colorado, coupled with our strong and disciplined stewardship of our policyholders premium help keep Pinnacol stable today and in the future.”
