Jane Dotson
AmFirst Insurance Company is headquartered in Ridgeland, Mississippi, and has been growing continuously since its creation in 1998. AmFirst is a subsidiary of AmFirst Holdings, Inc., and is committed to providing customers with innovative insurance products and ideas, backed by superior personal service and cutting-edge technology. AmFirst has been affirmed with a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of a-, reflecting consistent profitability and capital retention. The company offers a range of insurance products, including life, dental, vision, and medical gap plans, serving customers in Latin America, Asia, and the Caribbean.
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What You'll Learn
AmFirst Insurance Company's continuous growth since 1998
AmFirst Insurance Company, headquartered in Ridgeland, Mississippi, has experienced continuous growth since its founding in 1998. Over the past two decades, the company has demonstrated resilience and stability, consistently meeting the needs of its policyholders through both prosperous and challenging economic periods.
AmFirst's sustained growth can be attributed to several key factors. Firstly, the company has consistently developed innovative supplemental medical products, including dental, vision, and medical gap plans. This commitment to innovation has helped AmFirst expand its market share and gain a competitive edge in the insurance industry.
Another contributing factor to AmFirst's success is its strong financial position. The company has been rated "A-" by A.M. Best, reflecting its excellent financial strength and stability. This rating also takes into account AmFirst's consistent operating profitability and capital retention capabilities. With over $550 million in total assets, AmFirst has the financial resources to support its growth initiatives and provide superior customer service to its policyholders.
The company's expansion into multiple states further underscores its continuous growth. As of 2022, AmFirst Insurance was licensed to sell insurance in 32 states, including Nevada, where it was recently approved to offer its Premium Saver Plan. This expansion demonstrates the company's ability to adapt to different markets and meet the diverse needs of its customers across the country.
AmFirst Insurance Company's growth trajectory since 1998 is a testament to its resilience, innovation, and financial strength. Through its commitment to product development, financial stability, and superior customer service, AmFirst has established itself as a trusted and expanding presence in the insurance industry. The company's outlook remains positive, and it is well-positioned to continue serving its policyholders and expanding its market presence in the years to come.
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AmFirst's innovative insurance products
AmFirst Insurance Company is an innovative insurance provider headquartered in Ridgeland, Mississippi, with a wholly-owned subsidiary in Puerto Rico. Since its inception in 1998, AmFirst has experienced consistent growth by offering creative insurance solutions and superior customer service.
In the life insurance market, AmFirst stands out with its commitment to innovation. The company offers a range of life insurance products that cater to customers in Latin America, Asia, and the Caribbean. Backed by the stability of U.S. banks and the strength of the U.S. judicial system, AmFirst Life Insurance provides protection and security to its policyholders. Their products include disability and savings plans, ensuring that individuals and families are financially secure in the face of life's uncertainties.
AmFirst also demonstrates its innovation through its Premium Saver Plan. This plan offers customers a unique opportunity to save money on their insurance premiums without compromising on coverage. The Premium Saver Plan has been approved for sale in multiple states, including New Mexico and Nevada, expanding AmFirst's reach and impact.
Furthermore, AmFirst Insurance Company stays at the forefront of the industry by leveraging cutting-edge technology. By combining advanced technology with their insurance expertise, they enhance the customer experience and streamline processes. AmFirst's use of technology demonstrates its commitment to staying agile and responsive to the evolving needs of its customers.
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AmFirst Life Insurance Company's international presence
AmFirst Life Insurance Company is a member of AmFirst Holdings, Inc., a Mississippi-based holding company with subsidiaries that include both domestic and international insurance carriers and related service companies. AmFirst Holdings, Inc. owns five insurance companies, including AmFirst Life Insurance Company, and three service companies that provide administrative services to the insurance carriers within the group.
AmFirst Life Insurance Company is based in Puerto Rico and is an internationally recognised insurer. The company strives to meet the needs of customers in Latin America, Asia, and the Caribbean by offering innovative products in the life, dental, vision, disability, medical, and savings markets. AmFirst Life Insurance Company is regulated by the Office of the Commissioner of Insurance of Puerto Rico and is a member of the National Association of Insurance Commissioners.
In addition to its presence in Puerto Rico, AmFirst Holdings, Inc. has a presence in multiple other countries and regions, including the United States, the British Virgin Islands, the Bahamas, and Nevis. AmFirst Holdings, Inc. owns insurance companies domiciled outside of the United States, including London America Insurance Company (domiciled in Nevis) and New Providence Life Insurance Company (domiciled in the Bahamas).
AmFirst Holdings, Inc. also has a presence in the United States, with insurance companies domiciled in Oklahoma and New York. AmFirst Insurance Company, an affiliate of AmFirst Life Insurance Company, is domiciled in Oklahoma and has administrative offices in Ridgeland, Mississippi. AmFirst Holdings, Inc. also owns Monitor Life Insurance Company of New York, which was acquired by AmFirst Insurance Company and AmFirst Holdings, Inc. in 2018.
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AmFirst's financial strength and credit ratings
AmFirst Insurance Company is headquartered in Ridgeland, Mississippi, and has experienced continuous growth since its founding in 1998. The company has consistently developed innovative supplemental medical products, including dental, vision, and medical gap plans, contributing to its expanding market share year after year. AmFirst has demonstrated resilience, stability, and security during both prosperous and challenging economic periods.
AmFirst Holdings, Inc., the parent company of AmFirst Insurance Company, has received strong financial strength and credit ratings from AM Best. In August 2024, AM Best affirmed a Financial Strength Rating of A- (Excellent) and a long-term Issuer Credit Rating of "a-" for AmFirst Holdings, Inc. This outlook is considered stable and reflects the company's consistent operating profitability and capital retention capabilities. AmFirst Holdings, Inc. also maintains the highest level of risk-adjusted capitalization, as evaluated by AM Best.
AM Best's ratings for AmFirst Holdings, Inc. and its subsidiaries take into account their balance sheet strengths, operating performance, business profiles, and enterprise risk management (ERM) practices. The ratings acknowledge the group's very strong balance sheet strength, supported by its leading level of risk-adjusted capitalization. However, AmFirst's business profile is viewed as limited due to product and geographic concentration, with premiums predominantly derived from the Premium Saver product and a small number of states.
In addition to the strong financial ratings, AmFirst has been approved to sell insurance in multiple states, including Nevada, which became the 32nd state to license AmFirst Insurance to offer its Premium Saver Plan. AmFirst's continuous growth, stable outlook, and strong financial ratings from AM Best reflect its financial strength and ability to meet the needs of its policyholders.
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AmFirst's expansion into different states
AmFirst Insurance Company, headquartered in Ridgeland, Mississippi, has experienced continuous growth since its inception in 1998. AmFirst's expansion strategy has involved extending its reach to multiple states across the USA, as well as establishing a presence in Latin America, Asia, and the Caribbean.
The company has also established a strong presence in the state of Mississippi, where its administrative offices are located. AmFirst has received recognition for its financial strength and stability, with AM Best affirming its excellent credit ratings and stable outlook. This affirmation reflects AmFirst's consistent profitability and capital retention, positioning it for further expansion opportunities.
In August 2024, AmFirst's expansion efforts continued with approval to sell the Premium Saver Plan in New Mexico. This approval marked another significant milestone in the company's growth, allowing it to tap into a new market and offer its insurance products to a wider population. AmFirst's expansion into New Mexico showcases its strategic focus on broadening its geographic reach.
Additionally, AmFirst has an international presence through its subsidiary, AmFirst Life Insurance Company, based in Puerto Rico. AmFirst Life strives to meet the diverse needs of customers in Latin America, Asia, and the Caribbean by offering innovative products in life, dental, vision, disability, medical, and savings markets. This expansion beyond the US market demonstrates AmFirst's adaptability and commitment to serving a global customer base.
Overall, AmFirst's expansion into different states and international markets has been a key driver of its continuous growth. By extending its reach, AmFirst has been able to tap into new markets, diversify its customer base, and solidify its position as a prominent insurance provider.
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Frequently asked questions
AM 1st Insurance Company is a wholly owned subsidiary of AmFirst Holdings, Inc. It is headquartered in Ridgeland, Mississippi, and was created in 1998.
AM 1st Insurance offers a range of insurance products, including life, dental, vision, disability, medical, and savings plans. The company also provides supplemental medical products such as dental, vision, and medical gap plans.
AM 1st Insurance is available in multiple states across the USA, including Mississippi, New Mexico, Nevada, and Oklahoma. The company also has a presence in Puerto Rico and the Bahamas.
AM 1st Insurance has been affirmed a Financial Strength Rating of A- (Excellent) by AM Best. This reflects the company's consistent operating profitability and capital retention.
