MONTPELIER –AM Best, the global rating agency for the insurance industry, has affirmed the rating of the Union Mutual of Vermont Companies of “A” (Excellent) with a Stable Outlook. The Union Mutual of Vermont Companies consist of Union Mutual Fire Insurance Company and its wholly owned subsidiary, New England Guaranty Insurance Company, Inc. as well as its mutual affiliate, Community Mutual Insurance Company.
According to the report from AM Best, affirmation of the rating indicates consistent profitable operating performance, and reflects Union Mutual’s balance sheet strength — which AM Best assesses as very strong — as well as adequate operating performance, neutral business profile and appropriate enterprise risk management.
“We are very pleased with AM Best’s decision to affirm our A rating with Stable Outlook confirming our financial strength and strategic vision for the Company’s future,” said Union Mutual President & CEO Lisa Keysar. “This year’s affirmed rating is especially meaningful in light of the challenging market conditions we continue to face. It is Union Mutual’s top priority to be financially stable for our employees, policyholders and agency partners.”
Union Mutual of Vermont Companies, founded in 1874, is a property casualty insurance group consisting of Union Mutual Fire Insurance and New England Guaranty Insurance Company Inc., both based in Montpelier, Vermont; and Community Mutual Insurance Company, based in Latham, New York. The three companies write a total of $220 million in direct premium annually through independent agents throughout New England, and New York and are all rated A (Excellent) with a Stable Outlook by A.M. Best.
