Texas Mutual Receives A.M. Best's Top Ratings For Financial Strength and Issuer Credit

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Oct 09, 2012, 11:31 ET

AUSTIN, Texas, Oct. 9, 2012 /PRNewswire/ -- On Friday, Oct. 5, 2012, Texas Mutual Insurance Company received a financial strength rating of "A" (excellent) and an issuer credit rating of "a" from A.M. Best Co. in recognition of Texas Mutual's current financial strength. A.M. Best, the world's oldest and most authoritative insurance rating and information source, also assigned the outlook of stable to both ratings.

"The ratings are a reflection of the commitment to the company's mission from every business area," said Ron Wright, president of Texas Mutual. "Not only do these ratings recognize our financial strength, but they also recognize all Texas Mutual does to ensure that our company remains the state's carrier of choice. It is a great benefit to our policyholders for an accredited institution such as A.M. Best to provide such a comprehensive, positive assessment of our company and its future."

A.M. Best noted, "The ratings reflect Texas Mutual's superior risk-adjusted capitalization, strong underwriting and overall operating performance, and leading position in the Texas workers' compensation market. The ratings also acknowledge the company's experienced management team, knowledge of the Texas market, comprehensive enterprise risk management, reputation among policyholders for a high level of service and profit sharing, effective claims management, medical network and loss control services, commitment to reserve adequacy, and prudent investment management."

Texas Mutual sought these ratings from A.M. Best to provide policyholders with a third-party review and assurance of the company's financial strength, current stability and perceived stability for the future.

For more information about the ratings and methodology, visit Best's Credit Rating Methodology.

Texas Mutual Insurance Company
Austin-based Texas Mutual Insurance Company is the state's leading provider of workers' compensation insurance, with approximately 34 percent of the market. Since 1991, the company has provided a stable, competitively priced source of workers' comp insurance for Texas employers. Helping employers prevent workplace accidents is a major part of Texas Mutual's mission. For more information, visit www.texasmutual.com.

Contact: Terry Frakes
Senior Vice President, Public Affairs
Texas Mutual Insurance Company
(512) 224-3855

SOURCE Texas Mutual Insurance Company