AM Best Reaffirms Preferred Mutual’s ‘A’ (Excellent) Financial Strength Rating For 20th Consecutive Year

Preferred Mutual Insurance Company’s current Financial Strength Rating (FSR) has been reaffirmed by AM Best as “A” (Excellent) with a Stable outlook. The Long-Term Issuer Credit Rating (ICR) has been reaffirmed as “a+” (Excellent), and the outlook for the ICR has been upgraded from ‘Negative’ to ‘Stable.’

The Ratings reflect our company’s balance sheet strength, which AM Best continues to assess as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. Excellent ratings are given to insurance companies who not only have excellent financial stability, but also are able to meet the contractual needs of their policyholders.

“Preferred Mutual’s adequate operating performance is supported by solid underwriting results and consistent investment earnings, with the past two years reflecting an improvement in pure loss ratio trends. The Company’s neutral business profile assessment is driven largely by its solid regional niche market role with a broad product offering,” cites AM Best. Preferred has consistently held the ‘A’ rating for 20 consecutive years.

Source: Preferred Mutual