A.M. Best Upgrades Credit Ratings of The Marysville Mutual Insurance Company

OLDWICK, N.J.--(BUSINESS WIRE)-- A.M. Best has upgraded the Financial Strength Rating (FSR) to A- (Excellent) from B++ (Good) and the Long-term Issuer Credit Rating (Long-Term ICR) to “a-” from “bbb+” of The Marysville Mutual Insurance Company (Marysville Mutual) (Marysville, KS). The outlook of these Credit Ratings (ratings) has been revised to stable from positive.

The rating upgrades are a reflection of the company’s continued strengthening of its risk-adjusted capitalization and favorable operating performance. Recent surplus growth is attributable to profitable underwriting results complemented by a steady stream of fee and net investment income. Despite losses in 2011, the company’s five-year average combined ratio compares favorably with that of the personal property composite.

Partially offsetting these positive rating factors is Marysville Mutual’s geographic concentration, which exposes surplus to frequent and severe weather-related events, as well as the judicial, regulatory and economic environment. The company maintains a comprehensive reinsurance program to mitigate potential catastrophic losses and protect surplus.

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.

A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2016 by A.M. Best Rating Services, Inc. and/or its subsidiaries. ALL RIGHTS RESERVED.

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A.M. Best

Colette Fearon, +1 908 439 2200, ext. 5548

Financial Analyst

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Christopher Sharkey, +1 908 439 2200, ext. 5159

Manager, Public Relations

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Janet Hernandez, +1 908 439 2200, ext. 5767

Senior Financial Analyst

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Jim Peavy, +1 908 439 2200, ext. 5644

Director, Public Relations

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Source: A.M. Best