For Immediate Release
March 24, 2022
Media Contact: Thomas Thamm
MONTPELIER, Vermont (March 24, 2022)— AM Best, the global rating agency for the insurance industry, has once again affirmed the rating of A+ (Superior) for Vermont Mutual and its two fully reinsured subsidiaries, Northern Security Insurance Company, Inc. and Granite Mutual Insurance Company.
Dan Bridge, Vermont Mutual’s President and CEO, remarked “We are honored to again be acknowledged by AM Best for our superior financial strength. The A+ designation from AM Best is a direct reflection of Vermont Mutual’s consistently favorable underwriting and operating results and confirmation that we continue to remain a financially stable partner to our customers and our independent agency partners.”
Executive Vice President & COO, Mark McDonnell, added “The AM Best A+ rating stands as testament to the strong collaborative partnerships we share with our independent agents. We remain grateful for the professionalism, dedication and hard work of the entire Vermont Mutual team and the expertise and valuable service provided by our independent agency partners that helped to make the A+ rating possible.”
AM Best’s Financial Strength Rating is an independent appraisal of an insurer’s financial strength and their ability to meet policy and contract obligations. The internationally recognized rating is the result of a comprehensive examination of a company’s finances and operations. AM Best acknowledged Vermont Mutual’s very strong Balance Sheet, their strong Operating Performance, favorable Business Profile and appropriate Enterprise Risk Management. AM Best also assigned a stable outlook for the organization, expecting Vermont Mutual will maintain its superior balance sheet and operating performance.
Vermont Mutual Insurance Group® is a trade name of Vermont Mutual Insurance Company, Northern Security Insurance Company, Inc. and Granite Mutual Insurance Company. Chartered in 1828, Vermont Mutual is one of the ten oldest mutual property/casualty insurers in the United States and provides coverage throughout New England and upstate New York. Through more than 400 independent agencies, the Group insures over 315,000 policyholders, with a direct written premium of more than $500,000,000. The group is rated “A+ Superior” by A. M. Best and a Ward’s Top 50 performing property/casualty insurer in the U.S. for the past thirteen consecutive years.