A.M. Best Affirms Credit Ratings of Goodville Mutual Casualty Company; Withdraws Credit Ratings of German Mutual Insurance Company(OH)
OLDWICK, N.J.--(BUSINESS WIRE)--Aug 3, 2018--A.M. Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” of Goodville Mutual Casualty Company (Goodville) (New Holland, PA) and German Mutual Insurance Company(OH) (German) (Napolean, OH), both members of the Goodville Mutual Pool (The Pool). The outlook of these Credit Ratings (ratings) is stable. Concurrently, A.M. Best has withdrawn the ratings of German, as the company has requested to no longer participate in A.M. Best’s interactive rating process.
The ratings reflect the pool’s balance sheet strength, which A.M. Best categorizes as strongest, as well as the company’s strong operating performance, neutral business profile and appropriate enterprise risk management.
The pool’s rating is supported by strong and consistent operating profitability that has bolstered balance sheet strength. The favorable operating performance is supported by the pool’s strong underwriting discipline, long-standing market presence, solid agency relationships and conservative risk management efforts. As a result, the pool’s five-year average operating results compare favorably with composite averages. In more recent years, the pool has begun to further diversify geographically through organic growth initiatives.
Partially offsetting these positive rating factors is the pool’s premium geographic concentration focused primarily in personal lines writings in Pennsylvania and Ohio, which exposes the pool to both regulatory and event-driven risk.
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s web page. For additional information regarding the use and limitations of Credit Rating opinions, please view . For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view .
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CONTACT: A.M. Best
Dan Hofmeister, +1 908 439 2200, ext. 5385
Christopher Sharkey, +1 908 439 2200, ext. 5159
Manager, Public Relations
Joseph Burtone, +1 908 439 2200, ext. 5125
Jim Peavy, +1 908 439 2200, ext. 5644
Director, Public Relations
KEYWORD: UNITED STATES EUROPE NORTH AMERICA NEW JERSEY
INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE INSURANCE
SOURCE: A.M. Best
Copyright Business Wire 2018.
PUB: 08/03/2018 11:26 AM/DISC: 08/03/2018 11:26 AM