Our Philosophy
Being a private company brings unusual advantages. We are not influenced by the stock market's fixation on growth and short-term results, and we will not sacrifice our balance sheet to revenue or market share growth for its own sake. The result, long-term stability of our capital and surplus, enables us to cultivate long-term relationships with our customers without regard to market conditions. We have structured our company ownership and employee incentives to emphasize capital preservation as our primary corporate goal. This translates to a long-term commitment to financial stability and sustained capacity.
A.M. Best Rating
Harco has been assigned Best's Rating of A- (Excellent).
The company's Financial Size Category is Class VIII.
Highlights as of 12/31/2007
- Net Premium Written: $87.009 m
- Policyholder Surplus: $181.440 m
- Admitted Assets: $421.386 m
Highlights as of 12/31/2006
- Net Premium Written: $136.759 m
- Policyholder Surplus: $191.797 m
- Admitted Assets: $464.599 m
Quarterly Statutory Information
- 2009 Annual Statement
- 2008 Annual Statement
- 2007 Annual Statement
- 2006 Annual Statement
- 2005 Annual Statement
- 2004 Annual Statement
- 2003 Annual Statement
Excerpts from A.M. Best Rating Rationale:
The rating reflects the company's strong capitalization and knowledge and expertise in providing commercial property and casualty insurance to truck dealerships, auto dealerships, lease and rental companies and trucking businesses.
The new ownership also provides the company with greater synergies and economies of scale, more flexible access to capital should the need arise and significant investment expertise.
Prior to the acquisition, the company had successfully diversified its policyholder base by providing coverage to large national truck lease and rental organizations. Harco has also maintained favorable renewal retention rates through its offering of unique products, analyzing customer needs and sustaining relationships with its dealers and associations.
The company remains focused on profitably growing and servicing its core commercial auto books of business and assumed reinsurance program.