A.M. Best Revises Issuer Credit Rating Outlook to Positive for Forestry Mutual Insurance Company
These Credit Ratings (ratings) reflect
The Long-Term ICR outlook revision to positive is based on A.M. Best’s expectation that FMIC’s operating performance may continue to drive organic surplus growth and further improve risk-adjusted capitalization, along with stabilizing reserve development trends.
The rating affirmations further reflect FMIC’s strengthening risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR), but
In addition,
The business profile is limited as a mono-line workers compensation writer for the logging and forestry industries, which exposes it to risks associated with the timber industry such as a slowdown in construction industry or changes in the demand for wood products. However, FMIC has a defensible niche as a recognized leader in this industry. Forestry Mutual generates approximately 60% of its business in
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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