Church Mutual Insurance Company and its subsidiaries CM Vantage Specialty Insurance Company and CM Regent Insurance Company have earned a “positive” outlook for long-term issuer credit rating by A.M. Best, one of the oldest and most widely recognized providers of ratings and financial data in the insurance industry.
A.M. Best upgraded the long-term issuer credit rating to “positive” from “stable” in late June.
“The ‘positive’ outlook is significant because it reflects Church Mutual’s strong position in the marketplace and management’s extensive knowledge of our specialty niche markets,” said Rich Poirier, president and CEO of Church Mutual Insurance Company. “The rating also is important because it helps customers and prospects make buying decisions.”
A.M. Best also affirmed in late June the Church Mutual family of companies’ financial strength rating of “A” (excellent) and the long-term issuer credit rating of “a.”
The revised credit rating outlook reflects Church Mutual’s strong risk-adjusted capitalization, according to A.M. Best. It further reflects the company’s consistent underwriting and operating results, customer-focused market strategy and well-developed enterprise risk management capabilities.
In announcing the rating upgrade, A.M. Best noted that it anticipates continued favorable operating results from Church Mutual and its subsidiaries based on their diversification and expanded product suite.