Tag: Growth

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

Posted on August 22, 2025 by - Uncategorized

Stonetrust AM Best Rating Upgraded to A

Stonetrust AM Best rating, 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 provides 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, supporting businesses of all sizes with reliable and comprehensive insurance solutions. Their offerings include claims management, risk assessment, and dedicated customer support, ensuring policyholders receive the guidance and protection they need.

The AM Best upgrade reflects Stonetrust’s very strong balance sheet strength and consistent operating performance, highlighted by five consecutive years of positive income in every area of the business. 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 over the last few years. We had just achieved our A– rating in 2022, so we’re truly excited to receive this upgrade so soon after the last one. It affirms our profitability-first strategy, the partnerships we’ve built with our outstanding agency partners, and supports our plans to expand our products into additional states.”

For policyholders and agency partners, this upgrade means continued confidence in Stonetrust’s financial stability, exceptional service, and long-term commitment to providing high-quality workers’ compensation coverage. It demonstrates that the company not only meets but exceeds industry standards, offering peace of mind to businesses and employees alike.

The recognition from AM Best is a testament to Stonetrust’s ongoing dedication to excellence, innovation, and growth. By maintaining strong financials and fostering trusted partnerships with agencies, Stonetrust continues to set itself apart as a leading workers’ compensation insurer in the region. With a focus on continuous improvement, training, and technology-driven solutions, Stonetrust ensures policyholders receive timely, efficient, and reliable support.

Here’s to continued growth, excellence, and dedication in serving Stonetrust’s agency partners and valued policyholders!

2025 Stonetrust Annual Report

Posted on April 4, 2025 by - Uncategorized

Stonetrust 2025 Annual Report

The Stonetrust 2025 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, reaching $170.7 million, reflecting its strong financial foundation and stability. These results demonstrate the company’s ability to maintain profitability while navigating market challenges and continuing to provide excellent coverage and dedicated support to policyholders across all operating regions.

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 long-term relationships highlighted in the Stonetrust 2025 Annual Report. Their success showcases how collaborative agency partnerships contribute to sustainable growth, operational efficiency, and enhanced service for policyholders.

Stonetrust’s continued success is built on the loyalty and commitment of its agency partners and employees. The company emphasizes ongoing training, innovative claims solutions, and personalized support, ensuring policyholders receive high-quality coverage and personalized guidance every step of the way. 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. The 2025 Annual Report highlights these strategic initiatives, demonstrating Stonetrust’s focus on financial strength, operational excellence, and long-term agency relationships. By maintaining consistent growth, strong community engagement, and a respected reputation within the insurance industry, Stonetrust continues to position itself as a trusted and reliable provider of workers’ compensation solutions across all its operating regions.

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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.

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