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Vermont Mutual designated A+ Superior by A.M. Best

Submitted by tim on

Vermont Business Magazine A.M. Best Company, the global rating agency for the insurance industry, has once again affirmed the Financial Strength Rating of A+ (Superior) for Vermont Mutual Insurance Group. A.M. Best’s Financial Strength Rating is an independent opinion of an insurer’s financial strength and ability to meet its ongoing insurance policy and contract obligations.

A.M. Best noted that Vermont Mutual’s Enterprise Risk Management capabilities are appropriate for their size, their Business Profile is favorable and Operating Performance is strong. Vermont Mutual’s Balance Sheet and Capitalization were noted to be very strong. Given these results, which have consistently outperformed the industry composite, Vermont Mutual’s outlook is categorized as stable.

Vermont Mutual’s President and CEO, Dan Bridge, stated “The A+ “Superior” rating represents a comprehensive evaluation of our company and reflects Vermont Mutual’s favorable underwriting and operating results. This year’s evaluation was particularly rewarding as A.M. Best’s rating methodology had changed, requiring additional analysis and presentation to most effectively communicate our strategy, results and financial strength.” Bridge continued “The recognition is further testament to the positive collaboration we enjoy with our Independent Agency Partners.”
 
Executive Vice President & COO, Mark McDonnell added “We could not be more proud of the dedication and efforts of both our employees and our Independent Agents for their contributions in making Vermont Mutual a financially stable and predictable company.” 
 
This is the fourth consecutive year that A.M. Best has awarded the A+ (Superior) rating  to Vermont Mutual and its two fully reinsured subsidiaries, Northern Security Insurance Company, Inc. and Granite Mutual Insurance Company.
 
Vermont Mutual Insurance Group® is a trade name of Vermont Mutual Insurance Company, Northern Security Insurance Company, Inc. and Granite Mutual Insurance Company. Chartered in 1828, Vermont Mutual is one of the ten oldest mutual property/casualty insurers in the United States and provides coverage throughout New England and upstate New York. Through more than 400 independent agencies, the Group insures over 300,000 policyholders with a direct written premium of more than $475,000,000. The group is rated “A+ Superior” by A. M. Best and a Ward’s Top 50 performing property/casualty insurer in the U.S. for the past ten consecutive years.
 
Source: MONTPELIER, Vermont (January 22, 2019)—Vermont Mutual