AM Best Affirms Union Mutual Rating of “A” (Excellent) with Stable Outlook
MONTPELIER –AM Best, the global rating agency for the insurance industry, has affirmed the rating of the Union Mutual of Vermont Companies of “A” (Excellent) with a Stable Outlook. The Union Mutual of Vermont Companies consists of Union Mutual Fire Insurance Company and its wholly owned subsidiary, New England Guaranty Insurance Company, Inc. as well as its mutual affiliate, Community Mutual Insurance Company.
According to the report from AM Best, the rating indicates consistent profitable operating performance, and reflect Union Mutual’s balance sheet strength, which AM Best assesses as very strong, as well as adequate operating performance, neutral business profile and appropriate enterprise risk management.
“It remains our top priority to be financially secure for our policyholders and we are pleased with AM Best’s decision to affirm our A rating with a stable outlook.” Union Mutual President & CEO Lisa Keysar said. “The rating is an affirmation of the work of our talented employees, our solid relationships with our independent agency partners and the vision and guidance of our leadership team and Board of Directors.”
Union Mutual of Vermont Companies, founded in 1874, is a property casualty insurance group consisting of Union Mutual Fire Insurance and New England Guaranty Insurance Company Inc., both based in Montpelier, Vermont; and Community Mutual Insurance Company, based in Latham, New York. The three companies write a total of $212 million in direct premium annually through independent agents throughout New England, and New York and are all rated A (Excellent) with a Stable Outlook by A.M. Best.