A.M. Best Upgrades Church Mutual's Creditworthiness, Affirms Company's Financial Strength
MERRILL, Wis., July 5, 2017 (Newswire.com) - Church Mutual Insurance Company and its subsidiaries CM Vantage Specialty Insurance Company and CM Regent Insurance Company have earned a "positive" outlook for long-term issuer credit rating by A.M. Best, one of the oldest and most widely recognized providers of ratings and financial data in the insurance industry.
A.M. Best upgraded the long-term issuer credit rating to "positive" from "stable" in late June.
"The 'positive' outlook is significant because it reflects Church Mutual's strong position in the marketplace and management's extensive knowledge of our specialty niche markets," said Rich Poirier, president and CEO of Church Mutual Insurance Company. "The rating also is important because it helps customers and prospects make buying decisions."
A.M. Best also affirmed in late June the Church Mutual family of companies' financial strength rating of "A" (excellent) and the long-term issuer credit rating of "a."
The revised credit rating outlook reflects Church Mutual's strong risk-adjusted capitalization, according to A.M. Best. It further reflects the company's consistent underwriting and operating results, customer-focused market strategy and well-developed enterprise risk management capabilities.
In announcing the rating upgrade, A.M. Best noted that it anticipates continued favorable operating results from Church Mutual and its subsidiaries based on their diversification and expanded product suite.
About Church Mutual Insurance Company
Church Mutual Insurance Company, founded in 1897, offers specialized insurance for religious organizations of all denominations, as well as schools, camps, denominational offices and senior living facilities. Church Mutual markets most lines of commercial property and liability insurance, including multi-peril, workers' compensation and commercial auto insurance. In addition to insurance, Church Mutual provides a spectrum of value-added solutions that benefit its customers. Church Mutual holds the following honors:
- A.M. Best Company "A" (excellent) rating
- 2016 Ward's 50 Top Performing Property and Casualty Insurers
- BenchmarkPortal Top 10 National Customer Service Center
- 2016 Wisconsin 75 by Deloitte US
- Futuremakers Partner, by Wisconsin Technical College System
About CM Vantage Specialty Insurance Company
CM Vantage, a wholly owned subsidiary of Church Mutual Insurance Company, provides innovative solutions for the excess and surplus lines insurance marketplace. The company, established in 2016 and headquartered in Madison, Wisconsin, distributes products solely through select wholesale brokers and general agents nationwide.
About CM Regent Insurance Company
CM Regent Insurance Company is a leading commercial property and liability insurance company dedicated to serving K-12 public schools and colleges. It offers commercial property and liability insurance, workers' compensation, school leaders' legal liability, excess liability, privacy protection and owner-controlled insurance. For more than 40 years, CM Regent been a trusted expert in providing protection and risk management advice to schools.
Source: Church Mutual Insurance Company