Rural Mutual Insurance Receives A+ (Superior) Credit Rating for Second Year

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Aug 05, 2019, 12:48 ET

MADISON, Wis., Aug. 5, 2019 /PRNewswire/ -- Madison-based Rural Mutual Insurance Company announced AM Best affirmed its Financial Strength Rating of A+ (Superior) for the second year in a row. Rural Mutual is one of only five single state insurers in the U.S. and the only single state insurer in Wisconsin to receive an A+ rating.

AM Best is a global rating agency with a unique focus on the insurance industry. Only a small percentage of U.S. Property & Casualty insurance companies overall are awarded an A+ (Superior) rating from the agency, and achieving the highest rating is especially rare for single state insurers. This is due to frequent severe weather-related events as well as judicial, regulatory, and economic concerns that can't be offset by better conditions in other regions.

Rural Mutual's accomplishment resulted from the company's consistently strong balance sheet and operating performance, demonstrated by 67 consecutive quarters of policy holder surplus growth. This was enhanced by new and improved products and innovative initiatives to support customers, including Industrial Hemp Crop Hail Insurance, Pollution Liability Coverage and Dairy Revenue Protection.

Dan Merk, Rural Mutual executive vice president & CEO, credits the company's success to its quality employees and agents who are committed to offering protection and value to the communities they serve throughout Wisconsin.

"This A+ Rating is a testament to the hard work and dedication of the entire Rural Mutual team who every day reaffirms our company's unwavering commitment to provide the best in value and service to our customers," Merk said.

Rural Mutual has protected Wisconsin homes, farms and businesses since 1934. The company does business in only one state, so premiums paid here, stay here to keep Wisconsin strong.

About Rural Mutual Insurance
Rural Mutual Insurance Company has been protecting Wisconsin for 85 years. As a Ward 50^® company, Rural Mutual provides a full line of insurance products exclusively to families, businesses and farms in Wisconsin. The company is headquartered in Madison and has more than 150 agents in more than 100 locations across the state. For more information about Rural Mutual Insurance, click here.

SOURCE Rural Mutual Insurance Company