For Immediate Release
January 29, 2020
Media Contact: Thomas Thamm
MONTPELIER, Vermont (January 29, 2020)—A.M. Best, the global rating agency for the insurance industry, has 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.
A.M. 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. A.M. Best acknowledged Vermont Mutual’s very strong Balance Sheet, their strong Operating Performance, favorable Business Profile and appropriate Enterprise Risk Management in its assessment of the company’s operations and results.
Vermont Mutual’s President and CEO, Dan Bridge, stated “As an A+ rated insurer, Vermont Mutual finds itself in a select group of high performing companies in the insurance industry. To remain at this level requires a dedicated team of talented people, working together to be the very best. I am both proud and appreciative of the efforts of our employees, directors, agents and business partners that have resulted in this A.M. Best A+ rating and the improved financial stability for our policyholders.”
Executive Vice President & COO, Mark McDonnell, added “We are grateful, not only for this recognition by A.M. Best, but also for the financial results that support the A+ rating and allow us to continue to invest in our organization and everyone who has a hand in our success. Our ability to focus on continuous improvement positions us well for a bright future.”
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 eleven consecutive years.