OMIG News

All News

Ohio Mutual's Financial Strength Reaffirmed

Monday, June 04, 2012

Click here for a print-friendly PDF version

Two decades of “A” ratings from A.M. Best

BUCYRUS, OH – The financial strength of Ohio Mutual Insurance Group (OMIG) has been reaffirmed by insurance rating organization A.M. Best Co., which has awarded the company a financial strength rating (FSR) of “A” (Excellent) for the 20th consecutive year. In addition, the company’s issuer credit rating (ICR) was reaffirmed as an “a” with a positive outlook.

The ratings include the three companies included in the OMIG intercompany pool: Ohio-domiciled Ohio Mutual Insurance Company, its wholly owned subsidiary United Ohio Insurance Company, and Maine-domiciled Casco Indemnity Company.

In explaining its rating, Best states: “The group's positive rating factors are derived from its moderate underwriting leverage, conservative investment profile and solid regional market presence. Long-standing agency relationships are maintained with its distribution network of independent agents who share common values of profitable underwriting, commitment to service and product development initiatives.”

“Following a year in which much of the industry – including Ohio Mutual – was wounded by an unprecedented pattern of severe weather, this confirmation of our core financial strength by the industry’s most credible rating organization is most welcome,” said Ohio Mutual President & CEO Jim Kennedy. “As a company, we have declared that our purpose is ‘to keep the promises that secure dreams,’” Kennedy added, “and it’s our financial strength that enables us to keep our promises to the policyholders who entrust us with those dreams.”

Founded in 1899, A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. More information is available at www.ambest.com.

Ohio Mutual Insurance Group, founded in 1901 and based in Bucyrus, OH, partners with nearly 400 independent agencies to distribute quality property and casualty insurance products throughout Ohio, Indiana, and five states in New England. Additional company information is available at www.omig.com.

# # #