In today’s economy, financially stable insurers are essential when employer groups are looking for benefits and service they can count on today and in the future.
Eagan, Minn. (PRWEB) November 04, 2011
Delta Dental of Minnesota announced today that A.M. Best Company, the insurance ratings organization, re-affirmed its financial strength rating of A (Excellent) for the 13th consecutive year. This is among the highest ratings of any dental plan in the nation. The financial strength rating reflects Delta Dental of Minnesota’s ability to pay claims.
A.M. Best has changed the issuer credit rating from “a+” to “a”. This change in a corporate debt rating will not affect Delta Dental of Minnesota or its customers. “The issuer credit rating reflects the company’s ability to pay its corporate debt, and it has none,” said Dave Morse, President, Delta Dental of Minnesota. “We have not issued corporate debt in the past and there are no plans to do so in the future. We pay cash.”
“In today’s economy, financially stable insurers are essential when employer groups are looking for benefits and service they can count on today and in the future,” continued Morse. “We are pleased to receive A.M. Best’s strong, independent affirmation of our financial stability.”
In its opinion rationale, A.M. Best states:
- “The organization’s dominant share of the group dental insurance market in Minnesota results from high business retention and new sales achieved via competitive pricing, wide array of products, strong brand recognition, and a reputation for superior customer service.”
- “Continuing net income has been generated by good underwriting results, investment income and periodic realized capital gains.”
- “Its recent strategic business objectives have included growing sales of individual and retiree dental products, as well as maintaining and expanding business partnerships.”
- “The organization’s significantly decreasing net premium revenue over the last two years has been driven by membership decreases within customer groups, customer terminations of dental coverage due to the recessionary economy and more customer groups option to self-insure their dental benefits.”
For the latest rating, access http://www.ambest.com.
About Delta Dental of Minnesota
Delta Dental of Minnesota is one of the largest providers of dental benefits in the Upper Midwest, serving 8,000 Minnesota-based purchasing groups and 3.8 million members nationwide. The company was founded in 1969 and is an independent, non-profit health service plan corporation. Delta Dental is a licensee of Delta Dental Plans Association (DDPA), the largest dental benefit system in the United States. As a non-profit, our mission is to help ensure access to affordable dental care. For more information about Delta Dental of Minnesota, visit http://www.deltadentalmn.org. Delta Dental is a registered mark of Delta Dental Plans Association. Delta Dental of Minnesota is an independent nonprofit dental services company and is an authorized licensee of the Delta Dental Plans Association of Oak Brook, Illinois.
About A.M. Best
A.M. Best Co., established in 1899, is the world’s oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best’s Web site at http://www.ambest.com.
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