Category: Uncategorized

Stonetrust Workers’ Compensation is upgraded to “A” (Excellent) Rating by AM Best

Posted on August 22, 2025 by - Uncategorized

AM Best, the world’s leading insurance industry credit rating agency, upgraded Baton Rouge based regional workers’ compensation insurer, Stonetrust Commercial Insurance Company’s Financial Strength and Credit Ratings from A– (Excellent) to A (Excellent). Stonetrust offers workers’ compensation coverage and services to more than 5,000 policyholders in Louisiana and eleven other states in the midwest and southeastern regions of the United States. 

AM Best indicated that the rating upgrade reflected Stonetrust’s very strong balance sheet strength, and operating performance highlighted by five consecutive years of positive income in each area. Stonetrust President, Michael G. Dileo, commented, “The upgrade is a compliment to the tremendous team that we’ve assembled at Stonetrust and reinforces the momentum and progress that we’ve achieved the last few years. We had just achieved our A– rating in 2022, so we’re really excited to receive this upgrade so soon after the last one. It affirms our profitability-first strategy, the partnerships that we’ve built with our great agency partners, and supports our plans for expanding our product into more states.”

Here’s to continued growth and excellence in serving our agency partners and policyholders!

2025 Stonetrust Annual Report

Posted on April 4, 2025 by - Uncategorized

This year’s Stonetrust Annual Report provides a comprehensive overview of the company’s performance in 2024. Stonetrust Commercial Insurance Company achieved remarkable financial success in 2024 in a challenging and hyper-competitive workers’ compensation insurance environment. The company reported strong net underwriting and investment gains, resulting in total net income of $13.1 million for the year. Stonetrust’s surplus increased significantly again in 2024, to $170.7 million.

This year’s annual report features APEX Insurance Consultants of Arkadelphia, Arkansas, as the spotlight agency. APEX operates under the leadership of Stan Elrod, his daughter Melanie Bobo, and his son Michael Elrod. Since partnering with Stonetrust in 2013, APEX has grown to become Stonetrust’s largest agency in Arkansas, exemplifying the type of successful long-term relationships that drive the company’s growth.

Stonetrust’s continued success is built on the loyalty and commitment of its agency partners and employees. With additional state expansion targeted for late 2025, Stonetrust plans to continue growing its business profitably with current agency partners and agencies in new markets. 

View Annual Report

2024 Stonetrust Annual Report

Posted on August 19, 2024 by - Uncategorized

2024 Stonetrust Annual Report – 2023 Results & AM Best Upgrade

The 2024 Stonetrust Annual Report provides a comprehensive overview of the company’s performance and key milestones in 2023. Notably, Stonetrust Commercial Insurance Company achieved significant financial success, reporting a 6% growth in total premiums, which amounted to $52.4 million in written premiums and $51.7 million in net earned premiums. The company’s net underwriting gain reached $11.1 million, while a net investment gain of $2.5 million contributed to a total net income of $9.4 million. Stonetrust also saw a nearly $17 million increase in its surplus, which grew to $149.5 million, further strengthening its financial position.

In line with these achievements, Stonetrust’s total assets increased from $230.8 million at the end of 2022 to $253.4 million. These results reflect a consistent trend of underwriting profitability and strong investment returns, maintaining a competitive edge in the workers’ compensation insurance market. Despite the challenges posed by declining claim frequencies, lower claim costs, and fierce competition, Stonetrust remained resilient in 2023, underwriting nearly $12 million in new business premiums.

Stonetrust’s success was further validated by its July 2024 AM Best evaluation, which reaffirmed the company’s Financial Strength Rating of A- (Excellent) and Long-Term Issuer Credit Rating of “a-” (Excellent). Most notably, AM Best upgraded Stonetrust’s outlook from “Stable” to “Positive,” citing the company’s very strong balance sheet strength, consistent operating performance, robust underwriting earnings, and steady investment income.

The report also highlights the importance of partnerships, showcasing One General Agency (OGA) as a key contributor to Stonetrust’s growth and success in Oklahoma. The company expressed gratitude for the ongoing commitment and support from its agency partners, emphasizing that Stonetrust’s continued success is largely due to these strong collaborations.

Looking ahead to 2024, Stonetrust remains focused on maintaining its growth trajectory and delivering excellent results, even in the face of evolving market conditions and technological advancements.

Learn More

Unveiling the Stonetrust Difference: Fast, Reliable, and Easy Every Time!

Posted on April 9, 2024 by - Uncategorized

Since 1993, our commitment to reliability has defined the Stonetrust Difference, guiding us on an incredible journey with our agents and policyholders. Our dedication to building and fostering these relationships is at the heart of everything we do. When our agents and policyholders spoke up, we listened.

They expressed their prior frustrations with other workers’ compensation companies and the hurdles they have faced over the years. From fancy gimmicks and unclear incentives, to going round and round with underwriters, it has become clear that some companies simply drop the ball all too frequently.

As we listened carefully to the feedback from our customers and partners, a vision began to emerge. The complicated interaction and slow response times of other companies reminded us of a Rube Goldberg machine, a contraption intentionally designed to perform a simple task in an overly complicated way. This comparison seemed to capture the complexity and additional steps required of agents and policyholders by other insurance companies as part of their workers’ compensation underwriting process. 

Please take a moment to watch our version of the Rube Goldberg machine. To us, it illustrates how other workers’ compensation companies have complicated processes and unreliable service.  Stonetrust provides a better way – always available and responsive, delivering personalized service every time. We believe in making the process simple, fast, and reliable, so you never have to jump through hoops or wait on the phone for answers.

With Stonetrust, we’ve streamlined the process, offering efficient service that’s just a phone call away. We’ve built our reputation by consistently delivering on our promises, and we continue to be a trusted partner for our agents and policyholders. At the end of the day, it’s about providing service that is reliable, responsive, and easy. That’s the Stonetrust Difference —the way insurance should always be.

Stonetrust Insurance Announces Donation Funds and Donations in Honor of Cancer Survivors

Posted on July 27, 2023 by - Uncategorized

Stonetrust Commercial Insurance Company has announced two cancer research and treatment donation funds, as well as company donations in honor of two members of the Stonetrust team. The company recently hosted a luncheon in their Baton Rouge office to celebrate cancer survivors in the Stonetrust family and kick off their fundraising efforts for these leading nonprofits. 

Stonetrust has donated $5,000 to Mary Bird Perkins Cancer Center (in honor of employee Lydia Acosta) and $5,000 to St. Jude Children’s Research Hospital (in honor of Dawson Bunch, son of employee David Bunch). 

“We wanted to honor these Stonetrust team members and their families, and celebrate their courage,” said Stonetrust President and CEO Mike Dileo. “It presents an opportunity for us to learn more and understand the challenges that accompany cancer survivorship. It’s also a great reminder of the immense strength, courage, and resilience of these individuals and their families,” Dileo said.

Dileo emphasized that while the Stonetrust family celebrates the triumphs of Lydia and Dawson, the company is acknowledging the importance of cancer prevention and continued research towards further advances in cancer treatment.

“We encourage everyone to join us by donating individually as well. Lydia and Dawson each have a unique story that brings hope to others,” Dileo said.

READ LYDIA ACOSTA’S STORY AND DONATE
https://fundraise.givesmart.com/vf/Lydia

WAYS TO GIVE TO ST. JUDE
stjude.org

Financial Services Review Honors Stonetrust’s Francis Chou

Posted on January 12, 2023 by - Uncategorized

Stonetrust Owner, Francis Chou, founder of Chou Associates Management Inc. recently received the award for Top Canada Investment Firm 2022.

The flagship Chou Associate Funds boasts a long-running and consistent track record since their inception in 1986 as the best-performing equity fund in Canada, says the Financial Services Review.  

Read more about Chou’s investment strategy by reading the article below.

Read Article

Stonetrust Owner Francis Chou Featured In The Globe And Mail

Posted on November 22, 2022 by - Uncategorized

Stonetrust’s owner, Francis Chou, was recently interviewed by The Globe and Mail about his award-winning successes within volatile financial markets.

Chou spoke with the publication about his investment strategy and his outlook for the future. The full feature article delves into Chou’s opinions on bonds vs equities, as well as his philosophy on stock valuation.

Read Article

STONETRUST ENTERS IOWA & GEORGIA

Posted on September 1, 2022 by - Uncategorized

Stonetrust Workers’ Compensation Insurance Company will begin writing workers’ compensation coverage in Iowa and Georgia effective October 1st, 2022. This announcement follows the Baton Rouge based company’s recent Financial Strength Rating (FSR) upgrade to A- Excellent by AM Best. We look forward to growing our “First Choice” brand in both new states!

View Press Release

For information about establishing an agency partnership with Stonetrust in Iowa or Georgia, please contact us.

2022 STONETRUST ANNUAL REPORT

Posted on July 6, 2022 by - Uncategorized

We are very pleased to share with you our 2022 Annual Report, which showcases the many accomplishments the company achieved throughout 2021!

Stonetrust continues to perform exceptionally well, and we are looking forward to the opportunities created by our new A- rating. Our vision is to be the premier or “First Choice” workers’ compensation carrier for all our agents and policyholders. Although the current market environment remains extremely competitive, we have built a solid reputation as a financially strong company that is easy to work with and committed to outperforming our peers. Because of the talented team that we have assembled at Stonetrust and the support that we receive from all of you, our expectation is that we will achieve another strong result in 2022!

This year’s Annual Report also includes a tribute to long-time Stonetrust employee Glen Grigsby, who led the company’s marketing and underwriting efforts for many years. Glen contributed significantly to the formation, establishment, and growth of Stonetrust. His passion and legacy have endured, and his commitment to making Stonetrust the best workers’ compensation insurance company around continues to serve as the inspirational vision for the company’s future.

View Annual Report