A.M. Best Downgrades Issuer Credit Rating of McMillan-Warner Mutual Insurance Company
The ratings reflect MWM’s balance sheet strength, which
The rating action reflects MWM’s volatility in underwriting performance, while the change in outlook reflects the strength of risk-adjusted capitalization and strong balance sheet liquidity. Recent management initiatives such as enhanced loss control efforts and tightened underwriting standards have improved underwriting results in typical years. However, years with more weather-related catastrophe events than expected continue to influence the company’s operating performance over the longer term.
This press release relates to Credit Ratings that have been published on A.M. 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 A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and
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