BUCYRUS, OH – Insurance rating organization A.M. Best has issued its annual rating of Ohio Mutual’s financial strength, reaffirming its issuer credit rating (ICR) of “a+”, as well as the company’s financial strength rating (FSR) of “A” (Excellent) for the 26th consecutive year.
The ratings include the three companies that represent Ohio Mutual’s intercompany pool: Ohio-domiciled Ohio Mutual Insurance Company, its wholly owned subsidiary United Ohio Insurance Company, and Maine-domiciled Casco Indemnity Company.
In its rating rationale, A.M. Best cited Ohio Mutual’s strong balance sheet, favorable operating performance over the past five years, a diversified book of business (geographic and business lines), its long-standing agency relationships, and its formal enterprise risk management program. Summarizing its outlook for the company, A.M. Best stated, “The stable outlooks are reflective of the strongest level of risk-adjusted capitalization and strong operating performance.”
“This reaffirmation from A.M. Best is an indication of Ohio Mutual’s continued financial strength and operational excellence,” said the company’s President & CEO Mark C. Russell. “While a streak of more than a quarter century of excellent ratings is deeply gratifying, our team is focused on continuous improvement to better serve our policyholders. We recognize this ongoing success as a collective effort by our agent partners, business partners, associates, and policyholders.”
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, Maine, Vermont, New Hampshire, Connecticut, and Rhode Island. Additional company information is available at www.omig.com.