Rural Mutual’s A+ Credit Rating a Rare Feat for Single State Insurer

By a News Reporter-Staff News Editor at Insurance Weekly News -- Madison-based Rural Mutual Insurance Company (Rural Mutual) announced that A.M. Best has upgraded its Financial Strength Rating to A+ (Superior) from an A (Excellent). Rural Mutual is one of only five single state insurers in the U.S. to receive an A+ rating.

The A+ rating is an upgrade rarely awarded to single state insurers, which typically face significant challenges including frequent severe weather-related events and judicial, regulatory, and economic concerns that can't be offset by better conditions in other regions. The company's climb over the past 13 years from a B++ rating to an A+ rating is the quickest rise by any property & casualty insurance company that was not the result of an acquisition or reinsurance arrangement with a highly rated parent company, according to Aon/Benfield.

Keywords for this news article include: Business, Rural Mutual Insurance Company.

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