The Credit Ratings (ratings) reflect Pennsylvania Lumbermens Group’s balance sheet strength, which
The outlook revisions to stable reflect the group’s very strong balance sheet strength and adequate results over the past three years, with operating income reported since 2015, which are expected to continue in the near term. Driving more favorable performance in recent years has been improved underwriting results due to management’s commitment to corrective actions taken, including rate increases and a tightening of terms and conditions, as well as a firming of market conditions in the wood products and building materials niche.
Positive rating actions could occur if underwriting and operating results show a sustained favorable trend. Negative rating actions could occur if underwriting and operating results are not maintained at recently more favorable levels as expected based on management’s projections, or if risk-adjusted capitalization materially weakens.
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Senior Financial Analyst
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