AM Best Reaffirms Preferred Mutual’s ‘A’ (Excellent) Financial Strength Rating For 20th Consecutive Year
Preferred Mutual Insurance Company’s (“Preferred Mutual”) 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.
AM Best (www.ambest.com), founded in 1899, is the world’s oldest and most authoritative insurance rating and information source. This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating
information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page.Preferred Mutual Insurance Company provides property and casualty insurance coverage to more than 232,000 individual and business customers through a network of more than 500 independent agents located throughout New York, New Jersey, Massachusetts and New Hampshire. In business since 1896, Preferred Mutual is rated “A” by AM Best Company and is headquartered in New Berlin, New York.