OLDWICK, N.J.--(BUSINESS WIRE)--May 16, 2018--A.M. Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” of Associated Mutual Insurance Cooperative (Associated Mutual) (Woodridge, NY).

The Credit Ratings (ratings) reflect Associated Mutual’s balance sheet strength, which A.M. Best categorizes as very strong, as well as its marginal operating performance, limited business profile and appropriate enterprise risk management.

The revised outlooks also reflect Associated Mutual’s improved operating return measures such as total and pre-tax returns on revenue and equity, and underwriting and operating performance since 2015. These rating factors have been driven primarily by new management initiatives including diversification of the company’s product lines, implementation of a comprehensive reinsurance program expected to reduce loss ratio volatility, and targeted improvement of loss adjustment expenses. As a result of these initiatives, the company’s risk-adjusted capitalization has improved since 2015. These favorable rating attributes are offset to some extent by the company’s limited financial flexibility and scale of operations.

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 .

A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

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CONTACT: A.M. Best

Christopher Jackson, +1 908 439 2200, ext. 5721

Financial Analyst

christopher.jackson@ambest.com

or

Brian O’Larte, +1 908 439 2200, ext. 5138

Director

brian.o'larte@ambest.com

or

Christopher Sharkey, +1 908 439 2200, ext. 5159

Manager, Public Relations

christopher.sharkey@ambest.com

or

Jim Peavy, +1 908 439 2200, ext. 5644

Director, Public Relations

james.peavy@ambest.com

KEYWORD: UNITED STATES EUROPE NORTH AMERICA NEW JERSEY

INDUSTRY KEYWORD: PROFESSIONAL SERVICES INSURANCE

SOURCE: A.M. Best

Copyright Business Wire 2018.

PUB: 05/16/2018 03:19 PM/DISC: 05/16/2018 03:19 PM

http://www.businesswire.com/news/home/20180516006367/en