Best’s News & Research Service - December 04, 2007 10:36 AM (EST)
A.M. Best Affirms Ratings of Midwest Family Mutual Insurance Company; Revises Outlook to Positive
OLDWICK, N.J. //BestWire// - 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.
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