Balance sheet strength and strong enterprise risk management cited in preliminary rating
OMAHA, NE (November 8, 2021) – Omaha National Group, Inc. (“Omaha National”), a leading tech-enabled provider of workers’ compensation insurance and payroll services, today announced that AM Best has assigned a Preliminary Credit Assessment (PCA) to Omaha National Insurance Company with a Financial Strength Assessment of A- pca (Excellent) and a Long-Term Issuer Credit Assessment of “a-” pca (Excellent). The outlook assigned to these PCAs is stable.
The preliminary credit assessments reflect Omaha National’s balance sheet strength, which AM Best characterizes as very strong, its adequate operating performance, limited business profile and appropriate enterprise risk management.
“We are appreciative of this recognition from AM Best and the acknowledgment of Omaha National’s financial strength,” said Omaha National President and CEO Reagan Pufall. “This is an important step in Omaha National’s continued growth on the heels of our successful Series B fundraising.”
Omaha National, which was initially backed by investment firm Agman, announced in September 2021 it raised $45 million in Series B funding from investors Accomplice, HighSage Ventures and Tull Investments. In October 2021, the company also fortified its leadership by adding technology, finance and insurance industry strength to its board with four new directors:
- Beth Boucher, Former Senior Vice President & CIO, SiriusPoint;
- Nick Davies, Former Chairman USA and President Brit Americas, Brit Insurance; Operating Partner, Agman;
- Joyce Johnson-Miller, Chairman & Chief Investment Officer, Pacific Gate Capital; and
- Ryan Moore, Co-founder, Accomplice.
About Omaha National:
Omaha National serves the businesses that build America and keep it running; the small to midsize companies where people work with their hands and have a greater risk of being injured. Our proprietary software enhances our operations to better help our customers and their injured workers, while generating consistently favorable loss ratios. Omaha National offers AM Best A (Excellent) rated workers’ compensation coverage through more than 2,500 agencies. Since our launch in 2016, we have grown to more than 190 employees and over $130 million in program premiums.