LAKELAND, Fla., June 18, 2025 – RetailFirst Insurance Group announced that AM Best has revised the outlooks for its insurers, RetailFirst Insurance Company and BusinessFirst Insurance Company, from stable to positive. The financial strength rating of A- (Excellent) has been affirmed.
According to AM Best, the positive outlooks reflect RetailFirst Insurance Group’s sustained improvement in operating performance, driven by strong underwriting gains over the past five years. In 2024, the group generated a net underwriting gain of approximately $11.7 million, resulting in an overall combined ratio of 92.8%. The improved underwriting results are attributed to favorable loss experience, quicker claim closure rates, and favorable reserve releases. Despite continued rate decreases in their operating territory, RetailFirst Insurance Group achieved a 5.7% five-year compound annual growth rate in direct written premium.
“Our company’s outstanding financial performance is a testament to our commitment to excellence,” said Thomas Petcoff, RetailFirst chairman and CEO. “We’re focused on providing a stable, financially secure market for our policyholders and their agents, paired with unmatched customer service.”
RetailFirst and BusinessFirst collectively insure over 11,500 businesses across Florida, Georgia, Indiana, Kentucky, North Carolina, South Carolina, Tennessee, and Virginia.
