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LWCC Receives Ward's 50 Designation For Eighth Consecutive Year

22 Jul, 2009 WorkersCompensation.com

                               
Baton Rouge, LA (CompNewsNetwork) - For the eighth consecutive year, Louisiana Workers' Compensation Corporation (LWCC) has been named one of the 50 top-performing property-casualty insurers in America.

LWCC was selected as one of the Ward's 50 from over 3,100 property-casualty insurance companies nationwide. The designations are issued annually by Ward Group, a Cincinnati-based management consulting firm acknowledged as the leading authority on benchmarking and best practices services for the insurance industry. Ward Group made the selections after analyzing the financial performance of the more than 3,100 insurers.

"We at LWCC are proud to receive this designation that is based on safety, consistency and performance," said Kristin W. Wall, LWCC's president and chief executive officer. "It is a reflection of our commitment to providing excellent service to our policyholders, injured workers and agents."

Each Ward's 50 company has passed all safety and consistency screens and achieved superior performance over the five years analyzed, 2004-2008. The Ward's 50 property and casualty insurance companies produced a 14.4 percent return on average equity over the five years compared to 9.9 percent for the property-casualty industry overall.

"Volatility in the investment portfolios, economy and competitive landscape has forced companies to evaluate many of their business strategies," explained Jeff Rieder, president of Ward Group. "In selecting the Ward's 50, we identify companies that pass financial stability requirements and measure their ability to grow while maintaining strong capital positions and underwriting results."

Among the Ward's 50 property-casualty companies are such familiar national names as Travelers Insurance Group, Fireman's Fund Insurance Group and GEICO.

"The results for the Ward's 50 benchmarks indicate that companies are able to grow the business profitably in changing market conditions," said Rieder.

About LWCC

LWCC is a private, nonprofit mutual insurance company. It is the largest writer of workers' compensation insurance in Louisiana, covering about 20,000 policyholders in the state. The company carries an "A" (Excellent) rating from A.M. Best.

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