A.M. Best Withdraws Ratings of Associated Mutual

OLDWICK, N.J.--()--A.M. Best has affirmed the financial strength rating of B+ (Good) and the issuer credit rating of “bbb-” of Associated Mutual (Grand Rapids, MI). The outlook for the ratings remains negative. Subsequently, A.M. Best has withdrawn the ratings due to management’s request to no longer participate in A.M. Best’s interactive rating process.

The rating actions reflect Associated Mutual’s adequate risk-adjusted capitalization, which has been aided by lower premium revenues. The negative outlook on the ratings reflects the trend of net losses as well as declining premium development and lower capital and surplus.

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 www.ambest.com/ratings/methodology.

A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2014 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

Contacts

A.M. Best
David Mitchell, 908-439-2200, ext. 5556
Senior Financial Analyst
david.mitchell@ambest.com
or
Sally Rosen, 908-439-2200, ext. 5280
Assistant Vice President
sally.rosen@ambest.com
or
Christopher Sharkey, 908-439-2200, ext. 5159
Manager, Public Relations
christopher.sharkey@ambest.com
or
Jim Peavy, 908-439-2200, ext. 5644
Assistant Vice President, Public Relations
james.peavy@ambest.com

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Contacts

A.M. Best
David Mitchell, 908-439-2200, ext. 5556
Senior Financial Analyst
david.mitchell@ambest.com
or
Sally Rosen, 908-439-2200, ext. 5280
Assistant Vice President
sally.rosen@ambest.com
or
Christopher Sharkey, 908-439-2200, ext. 5159
Manager, Public Relations
christopher.sharkey@ambest.com
or
Jim Peavy, 908-439-2200, ext. 5644
Assistant Vice President, Public Relations
james.peavy@ambest.com