Thursday, July 9, 2015
Stevens Point, WI – Hortica’s (Florists’ Mutual Insurance Company and Florists’ Insurance Company) financial strength and issuer credit ratings were upgraded to A+ (Superior) and “aa-“ by A.M. Best, the insurance industry’s leading rating organization. Additionally, the company has been assigned a stable outlook.
A.M. Best made the announcement today as a result of Hortica’s affiliation with Sentry Insurance, becoming part of the Sentry Insurance Group. The affiliation was announced in May and finalized on July 1.
“Florists’ is expected to benefit from the shared expertise, service and financial support of Sentry. The ratings of Sentry have been extended to Florists’ Mutual,” A.M. Best stated in its news release. A.M. Best does not anticipate near-term changes to Sentry’s ratings.
“This is the news we’d hoped for when we announced our intention to join Sentry,” said Mona Haberer, Hortica CEO. “The announcement confirms that Hortica is in a strong position to continue providing policyholders the service and expertise they expect.”
“Both Sentry and Hortica have long histories of serving policyholders. Customers will benefit from Hortica’s unparalleled experience in the horticultural industry as well as Sentry’s business systems, technology and financial strength,” said Pete McPartland, Sentry’s president, CEO and chairman of the board. “Sentry is committed to growing Hortica as never before.”
About Sentry Insurance
Founded in 1904 and headquartered in Stevens Point, Wisconsin, Sentry employs more than 4,000 associates in 41 states. The company and its subsidiaries sell property and casualty insurance, life insurance, annuities and retirement programs for business and individuals throughout the country. A complete list of underwriting companies can be found at www.sentry.com.
About Hortica Insurance
Hortica, a niche-specific mutual insurance company with a rich history of more than 128 years in business, serves horticultural businesses across the U.S. Founded on June 1, 1887, Hortica has evolved into a comprehensive insurance company that guides and provides solutions for retail florists, garden centers, nurseries, landscape contractors, greenhouse growers, wholesale floral distributors and interior plantscapers.