AM Best Assigns Credit Ratings to Reamstown Mutual Insurance Company; Affirms Credit Ratings of Goodville Mutual Casualty Company
AM Best has assigned a Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a+” to
The ratings of Reamstown and
The ratings of Reamstown reflect the company’s implicit support from
The affirmation of Goodville’s ratings is reflective of the pool’s continued strong operating performance in recent years. The pool experienced modest adverse reserve development in 2018, due to uncharacteristic hail activity in a particular area. However, the pool continues to produce favorable underwriting and operating returns, despite the adverse development. Management anticipates that the affiliation with Reamstown will further expand the pool’s underwriting capability in other subsectors of homeowners business, and that more efficient underwriting and reinsurance expenses going forward will improve Reamstown’s results going forward.
This press release relates to Credit Ratings that have been published on AM 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 AM 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 AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
AM Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit www.ambest.com for more information.
Copyright © 2019 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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Source: AM Best
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