AM Best improves credit ratings for Auto Club Insurance Company of Florida; Confirms credit ratings of the Auto Club Insurance Association and its affiliates


OLDWICK, NJ–(BUSINESS WIRE)–AM Best upgraded the financial strength rating (FSR) from A (Excellent) to A- (Excellent) and the issuer’s long-term credit rating (long-term ICR) to “a” (Excellent) from “a- (Excellent) from Auto Club Insurance Company of Florida (ACICF). In addition, AM Best confirmed Auto Club South Insurance Company (ACSIC)’s FSR of A (Excellent) and long-term ICR of “a” (Excellent). Together, these companies form the Auto Club Florida group (Auto Club Florida) and are domiciled in Tampa FL. The outlook for these credit ratings is stable. At the same time, AM Best confirmed the FSR of A (Excellent) and the long-term ICR of “a” (Excellent) of the Auto Club Insurance Association (ACIA) (Dearborn, MI) and its wholly owned subsidiaries, which are collectively referred to as Groupe Auto Club (ACG). The outlook for these ratings is stable.

Auto Club Florida’s ratings reflect the strength of its balance sheet, which AM Best rates as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).

Auto Club Florida’s ratings also reflect AM Best’s assessment of the financial support offered by its ownership group (CFIA, 91.7% ownership and ACG, 8.3% ownership). Both CFIA and ACG are committed to supporting growth and ongoing operations as needed. As in the past, capital will be called into the group at the discretion of the property within the guidelines outlined in the pre-determined capital risk tolerance framework.

ACG’s ratings reflect the strength of its balance sheet, which AM Best rates as very strong, as well as adequate operating performance, neutral business profile and appropriate ERM.

The FSR of A (Excellent) and the long-term KPIs of “a” (Excellent) have been confirmed for the following wholly owned subsidiaries of the Auto Club Insurance Association:

  • MemberSelect Insurance Company

  • Multi-risk insurance company Auto Club

  • Auto Club group insurance company

  • Meemic Insurance Company

  • Fremont Insurance Company

  • Members insurance company

  • Universal Insurance Company (NC)

This press release relates to credit ratings that have been published on AM Best’s website. For all rating information relating to the release and relevant disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For more information on the use and limitations of credit rating opinions, please see Best’s Guide to Credit Ratings. For more information on the proper use of Best’s Credit Scores, Best’s Performance Ratings, Best’s Preliminary Credit Ratings, and AM Best’s press releases, please see the Guide to Proper Use of Best’s Best ratings and reviews.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in more than 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit

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