Harford Mutual Insurance Group Maintains A.M. Best A (Excellent) Rating
Harford Mutual Insurance Group announced that A.M. Best has affirmed its current Financial Strength Rating (FSR) of “A” (Excellent) with a Stable outlook and the Long-Term Issuer Credit Rating (Long-Term ICR) “a” (Excellent) with a Stable outlook.
“While we always strive to improve in every financial, operational, strategic, and risk management category, an affirmed A, Stable rating highlights the company’s excellent capitalization, strength, and results,” said Steven D. Linkous, President & CEO of Harford Mutual Insurance Group. The A.M. Best Rating Committee also moved Harford Mutual’s Balance Sheet Strength Descriptor to the highest level of “Strongest” from “Very Strong.” This is an acknowledgement of a sharp increase in Policyholders’ Surplus from increased underwriting income and unrealized capital gains and favorable Underwriting and reserve leverage ratios compared to commercial casualty composite averages over the last five years
