Westfield Insurance Named to the Ward's 50 list of Top Performing Insurance Companies


WESTFIELD CENTER, Ohio, July 16, 2014, - Westfield Insurance, a customer-focused property and casualty insurance company, was named to the 2014 Ward's 50 group of top performing insurance companies according to an analysis conducted by the Ward Group. Westfield was recognized for achieving outstanding financial results in the areas of safety, consistency and performance during the five-year period from 2009-2013.

"It is an honor for Westfield to be named to the 2014 Ward's 50," sad Edward Largent , President and Westfield Group Insurance Leader. "Because the Ward Group is the leader in benchmarking and best practices for the insurance industry, this award provides us with an independent and authoritative perspective about how well Westfield is performing compared to our peers."

Each year, the Ward Group, analyzes the financial performance of more than 3,000 property-casualty insurance companies and nearly 800 life-health insurance companies domiciled in the United States. These companies are analyzed on a variety of objective data and subjective quality measures, including:

  • Risk-based capital of ratio of at least 100 percent for each of the five years analyzed
  • Compound annual growth in premiums between -10 percent and +40 percent
  • Net written premium divided by gross written premium is greater than 50 percent
  • Gross written premium divided by net written premium is less that 130 percent
  • Ranked in top 10 percent of peer business mix benchmark group
  • Net income in at least four of the last five years
  • Must pass Ward Group's evaluation of company operations

Each company on the Ward's 50 list has successfully passed all of the safety and consistency screens and yielded superior performance during the five-year evaluation period.

Westfield is rated "A" (Excellent) for financial strength by A.M. Best, and has maintained an "A" or higher rating for the past 75 years. This is Westfield's inaugural appearance on the Ward's 50 list of top performing insurance companies.

About Westfield Group
Westfield Group is a customer-focused insurance and banking group of businesses headquartered in Westfield Center, Ohio and in business for more than 166 years. Westfield Insurance provides commercial insurance in 21 states, personal insurance in 10 states and surety services to customers in 31 states. Westfield is one of the nation's 50 largest property and casualty insurance groups, represented by a network of more than 1,000 independent insurance agencies. Westfield Bank provides banking solutions for businesses and individuals, and Westfield Services provides service and training support for independent insurance agencies. Lean more about Westfield Group at www.WestfieldInsurance.com and www.Westfield-Bank.com.

Media Contact:
Carl Alexoff
Marketing Communications Manager
800.243-0210, extension 4306059

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