AM Best Upgrades Union Mutual Rating to “A” (Excellent) with Stable Outlook
NTPELIER – Union Mutual announced today that AM Best has upgraded the rating of the Union Mutual of Vermont Companies to “A” (Excellent) with Stable Outlook. The Union Mutual of Vermont Companies consist 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.
“We are incredibly proud of our upgraded rating,” Union Mutual President & CEO Lisa Keysar said. “The rating upgrade to A (Excellent) reflects 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. It is our priority as a regional mutual company to be financially secure for our policyholders and our rating recognizes the Company’s strong performance and consistent results year over year. Union Mutual is committed to being a leader within the insurance industry and to be forward-thinking for our network of agencies and policyholders.”
According to the release from AM Best, the ratings indicate consistent profitable operating performance, and “reflect Union Mutual’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.”
Union Mutual last received a revised outlook in 2018 when AM Best revised the Company’s outlook to positive.
The full release from AM Best can be found at: http://news.ambest.com/presscontent
For the latest Best’s Credit Rating, access www.ambest.com.
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 $186 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 AM Best.