We’ve officially made the grade! AM Best, the insurance industry’s leading rating agency, recently upgraded its financial strength rating of GAINSCO’s principal insurance subsidiary, MGA Insurance Company, Inc. (GAINSCO Auto Insurance®), from a B++ to an A-. The new rating puts our company in the “Excellent” category for financial strength, further solidifying the impact of GAINSCO’s strong commitment to profitability and recent growth.
According to AM Best, this rating increase “is an independent opinion of an insurer’s financial strength and ability to meet its ongoing insurance policy and contract obligations.” With our recent acquisition by State Farm and continued growth into new states, this rating increase validates the hard work of GAINSCO employees throughout the United States who have furthered our mission to become the best nonstandard auto insurer in the markets we serve.
By the end of 2021, we will have expanded our services to four additional states from the 15 we currently serve. We look forward to continuing this momentum into 2022 and beyond, as the future holds many new and exciting developments for our growing company. “We have been very pleased with the results from our state expansion, and we anticipate that to continue,” said Glenn Anderson, President and CEO of GAINSCO. “We’re certainly humbled as a company to see this progress recognized by AM Best.”
The future is bright at GAINSCO, and we’re looking for driven agents and top talent to help us continue our forward trajectory. If you’re an agent who is interested in learning more about how our nonstandard policies could support your customers, we welcome you to complete an application to become a licensed agent with GAINSCO. If you’re a job seeker looking to further your career with a growing brand, please see our latest job openings.