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August 05, 2011

Companion Life Insurance Co. Named to Ward Group’s Top 50 Performers

Companion Life Insurance Co., which provides affordable and quality life, disability, dental and accident and specialty health insurance products for employer groups, has been named one of the top 50 performing life-health insurance companies in the nation by the Cincinnati-based insurance consulting firm Ward Group.

Ward Group, a leading provider of benchmarking and best-practices services to the insurance industry, annually analyzes the financial performance of nearly 800 life and health insurance companies domiciled in the United States to identify the top performers. The group is called the Ward’s 50®.  Ward Group also names the top 50 property and casualty insurance companies each year.

Each Ward’s 50 company has passed all safety and consistency screens and achieved superior performance over the five years analyzed, Ward Group said. This marks the 21st year Ward Group has conducted the analysis.

The Ward’s 50 life-health group of insurance companies produced an 18.7 percent return on average equity from 2006 to 2010, compared to 5.7 percent for the life-health industry overall, Ward Group said in announcing the top companies. For a complete list of the 2011 Ward’s 50, visit www.WardInc.com.

“Ward Group recognizes Companion Life as one of the top-performing life-health companies in the insurance industry,” said Jeff Rieder, president of Ward Group. “Excellent returns and strong operating results helped make Companion Life a top-performing insurance organization. Ward Group looks at company performance over a five-year period, and Companion Life has demonstrated the ability to maintain outstanding results over the long term.”

Rieder said the top-performing companies continue to achieve lower expense ratios.

“The lower expense ratio is a good indicator these companies achieve better organizational efficiency relative to the industry,” he said. In 2010, expenses relative to revenue were 8.3 percent lower for the Ward’s 50 property-casualty group of companies and 14.7 percent lower for the Ward’s 50 life-health group.

About Companion Life

Headquartered in Columbia, S.C., Companion Life Insurance Co. has specialized in employee benefits since 1971. The company markets life, dental, disability, accident and other insurance programs through a network of independent agents and brokers, general agents and managing general underwriters. Companion Life is licensed in 45 states and the District of Columbia. It holds an A.M. Best Rating of A+ (Superior).

About Ward Group

Ward Group is the leading provider of benchmarking and best-practices research studies for insurance companies. The firm analyzes staff levels, business practices and expenses for all areas of insurance company operations to help companies measure results, optimize performance, and be more profitable.

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