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A.M. Best Revises Outlook to Positive for The Marysville Mutual Insurance CompanyA.M. Best has revised the outlook to positive from stable and affirmed the financial strength rating of B++ (Good) and the issuer credit rating of "bbb+" for The Marysville Mutual Insurance Company (Marysville Mutual) (Marysville, KS). The positive outlook reflects the company's strengthening risk-adjusted capitalization and consistently favorable underwriting and operating performance. The company has grown surplus in four of the past five years mainly due to profitable underwriting results complemented by a steady stream of fee and net investment income. Despite underwriting losses in 2011, the company's five-year average combined ratio exceeds the personal property composite. Partially offsetting these positive rating factors is Marysville Mutual's geographic concentration, which exposes it to frequent and severe weather-related events, as well as the judicial, regulatory and economic environment. However, the company maintains a comprehensive einsurance program to mitigate potential catastrophic losses. Positive rating action may follow continued favorable operating performance while maintaining strong risk-adjusted capitalization. Negative rating action may occur if operating performance were to deteriorate resulting in a significant decline in risk-adjusted capitalization. This press release relates to rating(s) that have been published on A.M. 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 visit A.M. Best's Ratings & Criteria Center. A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com. Copyright © 2015 by A.M. Best Company, Inc. ALL RIGHTS RESERVED. View source version on businesswire.com: http://www.businesswire.com/news/home/20151123006193/en/ |
