AM Best

A.M. Best Places Ratings of Michigan Millers Mutual Insurance Company Under Review with Positive Implications


Gordon McLean
Senior Financial Analyst
(908) 439-2200, ext. 5304

Jennifer Marshall
Assistant Vice President
(908) 439-2200, ext. 5327

Christopher Sharkey
Manager, Public Relations
(908) 439-2200, ext. 5159

Jim Peavy
Assistant Vice President, Public Relations
(908) 439-2200, ext. 5644


OLDWICK - JANUARY 07, 2015 11:19 AM (EST)
A.M. Best has placed under review with positive implications the financial strength rating of B++ (Good) and the issuer credit rating of "bbb" of Michigan Millers Mutual Insurance Company (Michigan Millers) (Lansing, MI), following the recent announcement by Western National Mutual Insurance Company (Western National) (Edina, MN) that it has executed a definitive agreement to affiliate with Michigan Millers.

The affiliation agreement is expected to provide both companies with increased diversification through additional spread of risk, while providing Michigan Millers access to Western National's independent agency base. The affiliation agreement has been approved by each company's board of directors and is subject to regulatory approval, which is expected in March 2015, pending customary closing conditions and approval by regulatory authorities in Minnesota and Michigan.

It is expected that Michigan Millers will continue to operate as a separate entity writing commercial lines in Michigan and New York following the approval. With the affiliation, Michigan Millers will be joining a larger,

more diversified insurance group, which should result in improved economies of scale for the company.

Michigan Millers' ratings will remain under review until the close of the transaction and the conclusion of A.M. Best's assessment of its impact on those ratings.

The methodology used in determining these ratings is Best's Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best's rating process and contains the different rating criteria employed in the rating process. Best's Credit Rating Methodology can be found at

Key insurance criteria reports utilized:

  • Catastrophe Analysis in A.M. Best Ratings

  • Risk Management and the Rating Process for Insurance Companies

  • The Treatment of Terrorism Risk in the Rating Evaluation

  • Understanding BCAR for Property/Casualty Insurers

This press release relates to rating(s) 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 visit A.M. Best's Ratings & Criteria Center .

A.M. Best Company is the world's oldest and most authoritative insurance rating and information source.

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