AM Best Revises Issuer Credit Rating Outlook to Stable for Ohio Mutual Insurance Group’s Members

OLDWICK, N.J.--(BUSINESS WIRE)-- AM Best has revised the outlook to stable from negative for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) for the members of Ohio Mutual Insurance Group (OMIG) (Bucyrus, OH). The outlook of the FSR is stable. See below for detailed listing of these companies and Credit Ratings (ratings).

The ratings reflect OMIG’s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.

The revision of the Long-Term ICR outlook to stable from negative reflects the improvement in OMIG’s operating performance resulting from management initiatives implemented over the past few years. Following consecutive underwriting losses in 2022 and 2023, attributable to an unusually high level of catastrophe losses and increased loss severity due to rising inflation, OMIG’s management implemented initiatives to support future profitability. Management has addressed this volatility through rate increases and inflation adjustments, aggressive re-underwriting of the book of business, the nonrenewal of certain policies, in-depth inspections and higher deductible requirements. These actions have led to improved performance in subsequent years. OMIG has remained profitable in 2026 despite the impact of a large catastrophe that absent these initiatives would have had a greater effect on the group. The continued improvement as these initiatives have taken hold demonstrates that the actions are sustainable and effective. AM Best expects these actions to continue to sustain OMIG’s strong operating performance and align results with historical performance.

The FSR of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) have been affirmed, with the Long-Term ICR outlooks revised to stable from negative, while the outlook of the FSR is stable, for the following members of the Ohio Mutual Insurance Group:

• Casco Indemnity Company
• Ohio Mutual Insurance Company
• United Ohio Insurance Company
• United Mutual Insurance Company

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 Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

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Josie Novak, FRM, CPCU
Senior Financial Analyst
+1 908 882 2207
josie.novak@ambest.com

Anthony Molinaro
Associate Director
+1 908 882 2129
anthony.molinaro@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com

Source: A.M. Best Rating Services, Inc.