AM Best Upgrades Credit Ratings for Members of Grange Insurance Group

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has upgraded the Financial Strength Rating to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Ratings to “a-” (Excellent) from “bbb+” (Good) of Grange Insurance Association and its fully reinsured subsidiary, Granwest Property & Casualty, collectively referred to as Grange Insurance Group (Grange). The outlook of these Credit Ratings (ratings) has been revised to stable from positive. Both companies are domiciled in Seattle, WA.

The ratings reflect Grange’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).

The rating upgrades reflect Grange’s consistent operating performance, which has been steadily improving and trending more in line with adequately assessed companies. While Grange has not produced an underwriting gain in the prior five-year period, the degree of underwriting losses has been steadily decreasing and Grange reported minimal underwriting losses in 2025. Additionally, Grange reported pre-tax operating income and net income in each of the last five years and five-year operating performance metrics have begun to compare favorably with the private passenger standard auto and homeowners’ composite.

The very strong balance sheet strength assessment is supported by the strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), which is expected to remain consistent in future periods. The limited business profile reflects geographic concentration in two states and the historical challenges within the portfolio that have contributed to consistent underwriting losses. AM Best assesses Grange’s ERM program as appropriate, which includes a regular review of mitigation strategies for top risks and thorough stress testing.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

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