Financial Strength Rating Boost for HDI Global Select Insurance

AM Best Affirms A+ Rating for HDI Global Select Insurance

CHICAGO-- HDI Global Insurance Company (HGIC), a wholly owned U.S. subsidiary of international insurer HDI Global SE, recently announced an important achievement. The AM Best agency has affirmed a Financial Strength Rating (FSR) of A+ (Superior) for HDI Global Select Insurance Company. This affirmation indicates a stable outlook for their credit ratings.

Strengthening Market Position

This recent rating confirmation not only aligns with HDI’s global rating, but it also signifies the company's dedication to enhancing services in the U.S. Corporate & Specialty insurance sector. The company has been diligently expanding its product range to cater to an ever-growing distribution network and a diverse customer base.

Recent Acquisitions and Growth Strategies

In a significant move, HDI Global Insurance Company announced its acquisition of Indiana Lumbermens Insurance Company, which is now rebranded as HDI Global Select Insurance Company. This strategic transition underscores its commitment to maintaining a robust presence in the insurance market. The rebranding aligns the company’s operations with its current domicile in Illinois.

Entering New Markets

This acquisition is particularly beneficial as it opens avenues for HGIC to forge strategic partnerships and explore the surety market, among other business lines. A noteworthy partnership was established recently with Hallmark Financial Services, where HDI Global Select Insurance Company plays a vital role by providing capacity as well as support in product development for Hallmark's General Aviation and small to medium-sized commercial Property and Casualty insurance.

Leadership Perspectives

In light of the rating affirmation, Marco Hensel, Chief Underwriting Officer at HGIC, expressed that this recognition reinforces their strong foothold in the U.S. commercial insurance market. He noted the importance of a measured approach when underwriting both domestic and global risks. HGIC aims to be a True Partner in Transformation for clients, executing a well-thought-out global underwriting growth strategy.

Commitment to Partnership and Growth

Through strategic partnerships and responsible underwriting practices, HGIC is set on a path of continued growth. Their focus remains on delivering a valuable proposition to clients and business allies, ensuring that they can effectively meet evolving industry demands.

About HDI Global SE

HDI Global SE operates as a Corporate & Specialty Insurer, catering to the needs of small to medium enterprises, larger corporations, and middle-market clients through tailored insurance solutions. The company's influence spans the German and broader European markets, supported by the extensive HDI Global Network that includes over 175 countries.

Subsidiaries in the U.S. Market

In the United States, HDI runs three wholly owned subsidiaries, including HDI Global Insurance Company, which is a commercial property and casualty insurer recognized across all 50 states as well as Washington, D.C., Puerto Rico, and the U.S. Virgin Islands. The other two subsidiaries, HDI Global Select Insurance Company and HDI Specialty Insurance Company, also provide specialized insurance services across various sectors.

Leading International Programmes

Positioned as a Partner in Transformation, HDI Global SE manages over 5,100 International Programmes in compliance with global regulations, supporting multinational clients with comprehensive coverage options worldwide. The Talanx Group’s Corporate & Specialty Division continues to uphold its reputation, backed by a strong workforce of approximately 5,000 employees who contributed significantly to the company’s annual revenues.

Recognition from Rating Agencies

The Talanx Primary Group received commendable financial strength ratings, including an A+/stable ranking from Standard & Poor’s and an A+ rating by AM Best. This solidifies the company’s strong reputation in a competitive market.

Frequently Asked Questions

What financial strength rating did HDI Global Select Insurance receive?

HDI Global Select Insurance Company received an A+ (Superior) rating from AM Best, indicating a stable outlook.

What is the significance of this rating affirmation?

This rating reinforces HDI’s commitment to providing quality insurance solutions and highlights its robust presence in the U.S. market.

What strategic moves are HDI Global Insurance Company making?

They are expanding their product offerings and have made strategic partnerships to enhance their market position.

Who is the Chief Underwriting Officer of HGIC?

Marco Hensel serves as the Chief Underwriting Officer for HDI Global Insurance Company.

How does HDI Global SE operate in the U.S.?

HDI Global SE operates through subsidiaries that offer commercial property and casualty insurance across all U.S. states and territories.

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