SOUTHFIELD, Mich., June 9 /PRNewswire-FirstCall/ -- First Mercury Financial Corporation (NYSE: FMR) ("First Mercury" or the "Company") announced today that A.M. Best Company, Inc. has revised the outlook to positive from stable and affirmed the financial strength rating of A- (Excellent) and issuer credit ratings (ICR) of "a-" of First Mercury Group and its members. Concurrently, A.M. Best has revised the outlook to positive from stable and affirmed the ICR of "bbb-" of the parent holding company, First Mercury Financial Corporation. First Mercury's financial size category is IX.
According to A.M. Best, "The revised outlook reflects First Mercury's sustained improvement in underwriting and operating profitability in recent years within a very competitive surplus lines marketplace. The ratings and outlook also recognize First Mercury's specialty niche business strategy and the complementary benefits derived from its affiliated general agent, CoverX Corporation, which serves as the group's wholesale general agent."
Richard H. Smith, Chairman, President and Chief Executive Officer commented, "We are pleased to receive the positive outlook from A.M. Best that we believe recognizes the successful implementation of our growth and diversification strategy while maintaining profitability and balance sheet strength."
About First Mercury Financial Corporation
First Mercury Financial Corporation provides insurance products and services primarily to the specialty commercial insurance markets, focusing on niche and underserved segments where we believe that we have underwriting expertise and other competitive advantages. During the Company's 37 years of underwriting risks, First Mercury has developed the underwriting expertise and cost-efficient infrastructure which has enabled us to effectively underwrite such risks. Our risk-taking subsidiaries offer insurance products through our distribution subsidiaries: CoverX®, FM Emerald and AMC, which are recognized brands among insurance producers.
The Company uses the Investor Relations page of its website at www.firstmercury.com to make information available to its investors and the public.
SOURCE First Mercury Financial Corporation