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AM Best Revises Outlooks to Stable for Bear River Mutual Insurance Company
[March 24, 2020]

AM Best Revises Outlooks to Stable for Bear River Mutual Insurance Company

AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" of Bear River Mutual Insurance Company (Bear River Mutual) (Murray, UT).

The Credit Ratings (ratings) reflect Bear River Mutual's balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.

The stable outlooks reflect Bear River Mutual's recently improved underwriting results, operating performance, and risk-adjusted capitalization, driven by management's numerous strategic initiatives. These initiatives include an aggressive multi-year profit improvement plan that focuses on tightened underwriting guidelines, and rate level adequacy relative to current and projected loss experience. This more sophisticated rate level process has been developed through Bear River Mutual's new rating model that provides the pricing precision needed to more accurately assess its risk exposure and characteristics. According to management, Bear River Mutual's enhanced rating framework is expected to help return its operating results to historical levels.

Bear River Mutual has a limited business profile with a geographic concentration in Utah, which exposes its operating performance and capitalization to potential losses from earthquakes, weather-related events, competitive market conditions, and changes in the legislative and regulatory envronments. However, Bear River Mutual maintains a comprehensive reinsurance program, which largely mitigates this exposure.

This press release relates to Credit Ratings that have been published on AM 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 see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper media use of Best's Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best's Credit Ratings and AM Best Rating Action Press Releases.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit

Copyright © 2020 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

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