Rural Mutual's A+ Credit Rating a Rare Feat for Single State Insurer

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Jun 20, 2018, 11:00 ET

MADISON, Wis., June 20, 2018 /PRNewswire/ -- Madison-based Rural Mutual Insurance Company (Rural Mutual) announced that A.M. Best has upgraded its Financial Strength Rating to A+ (Superior) from an A (Excellent). Rural Mutual is one of only five single state insurers in the U.S. to receive an A+ rating.

The A+ rating is an upgrade rarely awarded to single state insurers, which typically face significant challenges including frequent severe weather-related events and judicial, regulatory, and economic concerns that can't be offset by better conditions in other regions. The company's climb over the past 13 years from a B++ rating to an A+ rating is the quickest rise by any property & casualty insurance company that was not the result of an acquisition or reinsurance arrangement with a highly rated parent company, according to Aon/Benfield.

Rural Mutual CEO Peter Pelizza noted that the A.M. Best upgrade resulted from the company's consistently strong balance sheet and operating performance, demonstrated by 63 consecutive quarters of policy holder surplus growth. This was fueled by new and improved products and innovative initiatives. For example, the Farm Dividend Program can pay up to 5% back on farm policy annual earned premium and is a way for the company to give back to its policyholders. Pelizza credited the company's success to its quality employees and agents who are "committed to doing the right thing" as they serve communities throughout Wisconsin.

"This achievement is ultimately due to the dedication of our entire team who demonstrate each day what it means to provide the best in value and service to our customers," Pelizza said.

Rural Mutual has been protecting Wisconsin homes, farms and businesses since 1934. And because the company does business in only one state, premiums paid here, stay here to keep Wisconsin strong.

About Rural Mutual Insurance
Rural Mutual Insurance Company has been protecting Wisconsin for 84 years. As a Ward 50^® company, Rural Mutual provides a full line of insurance products exclusively to families, businesses and farms in Wisconsin. The company is headquartered in Madison and has more than 150 agents in more than 100 locations across the state. For more information about Rural Mutual Insurance, click here.

SOURCE Rural Mutual Insurance Company