A.M. Best Assigns Ratings to Worth Casualty Company

OLDWICK, N.J.--(BUSINESS WIRE)-- A.M. Best Co. has assigned a financial strength rating of A- (Excellent) and an issuer credit rating of “a-” to Worth Casualty Company (Worth),following the execution of a quota share reinsurance contract whereby Worth is 100% reinsured by its parent company, Agricultural Workers Mutual Auto Insurance Company (Agricultural Workers Mutual), thelead member of Agricultural Workers Group. The outlook assigned to both ratings is stable. All companies are domiciled in Fort Worth, TX.

The ratings and outlook assigned to Worth reflect Agricultural Workers Mutual’s solid capitalization, consistently favorable pre-tax operating income and conservative underwriting strategy. These strengths are partially offset by Agricultural Workers Mutual’s above average underwriting leverage measures, somewhat elevated investment leverage, geographic concentration and narrow marketing niche.

For Best’s Credit Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings.

The principal methodologies used in determining these ratings, including any additional methodologies and factors that may have been considered, can be found at www.ambest.com/ratings/methodology.

Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.

A.M. Best Co.
Analysts
Bob Podolski, 908-439-2200, ext. 5731
[email protected]
or
Joseph Burtone, 908-439-2200, ext. 5125
[email protected]
or
Public Relations
Rachelle Morrow, 908-439-2200, ext. 5378
[email protected]
or
Jim Peavy, 908-439-2200, ext. 5644
[email protected]

Source: A.M. Best Co.