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FOR IMMEDIATE RELEASE
OLDWICK, N.J. - DECEMBER 04, 2007 12:00 AM (EST)
A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of "a-" of Midwest Family Mutual Insurance Company (Midwest Family Mutual) (Plymouth, MN). The outlook for the ratings has been revised to positive from stable.
The ratings reflect Midwest Family Mutual's favorable operating profitability, which is derived from the company's increased geographical and product diversification, expense reduction initiatives, long-standing agency relationships and firm market conditions.
These positive rating factors are partially offset by Midwest Family Mutual's elevated net written premium underwriting leverage ratio and its susceptibility to severe weather-related events. The company's outlook stems from its continued favorable operating results and solid surplus growth.
For Best's Ratings, an overview of the rating process and rating methodologies, please visit Best's Rating Center.
Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers.