Merchants Insurance Group announced that all three of its companies, Merchants Mutual Insurance Company, Merchants Preferred Insurance Company and Merchants National Insurance Company, have been given an A- (excellent) rating with a stable outlook from AM Best.
AM Best noted the group’s strong balance sheet, prudent investment portfolio, conservative reserving practices, and five-year average total return on equity in line with the commercial casualty composite.
“I would like to congratulate all who made this reaffirmed AM Best Rating of A- (Excellent) possible: Merchants colleagues, independent agents, and the Board of Directors,” said Charles E. Makey, III, President and Chief Executive Officer of Merchants Insurance Group. “This financial rating is a testament to the hard work, stability, and resiliency of the Merchants team, as well as the operational strength of our organization, even amid challenging times.”
AM Best is a full-service credit-rating organization for the insurance industry, rating organizations annually. The ratings are independent opinions, based on a comprehensive quantitative and qualitative evaluation of a company’s balance sheet strength, operating performance and business profile.
About AM Best
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.
