OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a+” for CUMIS Mortgage Reinsurance Company (CUMIS Mortgage Re) (Madison, WI). The outlook assigned to these Credit Ratings (ratings) is stable. CUMIS Mortgage Re is a subsidiary of CUMIS Insurance Society Group (CUMIS).
The ratings of CUMIS Mortgage Re’s reflect the consolidated balance sheet strength of CUMIS, which AM Best categorizes as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
The rating assignment level reflects CUMIS Mortgage Re’s role as a member of CUMIS. Explicit support is provided to CUMIS Mortgage Re through a material capital injection in the past five years. CUMIS Mortgage Re is fully integrated into the group's operations and management and is easily identified as a member of the group. The company provides complimentary products to the group’s insureds.
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