JULY 16, 2020 12:14 PM (EDT)

AM Best Assigns Credit Ratings to CUMIS Mortgage Reinsurance Company


CONTACTS:
 Jeffrey Stary
Financial Analyst
+1 908 439 2200, ext. 5689
jeffrey.stary@ambest.com

Robert Raber
Associate Director
+1 908 439 2200, ext. 5696
robert.raber@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

FOR IMMEDIATE RELEASE

OLDWICK - JULY 16, 2020 12:14 PM (EDT)
AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a+” for CUMIS Mortgage Reinsurance Company (CUMIS Mortgage Re) (Madison, WI). The outlook assigned to these Credit Ratings (ratings) is stable. CUMIS Mortgage Re is a subsidiary of CUMIS Insurance Society Group (CUMIS).

The ratings of CUMIS Mortgage Re’s reflect the consolidated balance sheet strength of CUMIS, which AM Best categorizes as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

The rating assignment level reflects CUMIS Mortgage Re’s role as a member of CUMIS. Explicit support is provided to CUMIS Mortgage Re through a material capital injection in the past five years. CUMIS Mortgage Re is fully integrated into the group’s operations and management and is easily identified as a member of the group. The company provides complimentary products to the group’s insureds.

This press release relates to Credit Ratings that have been published on AM 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 AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.


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