AM Best Withdraws Credit Ratings of Mt. Morris Mutual Insurance Company

JULY 22, 2024 12:28 PM (EDT)

AM Best Withdraws Credit Ratings of Mt. Morris Mutual Insurance Company

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FOR IMMEDIATE RELEASE

OLDWICK - JULY 22, 2024 12:28 PM (EDT)
AM Best has withdrawn the Financial Strength Rating of B++(Good) and the Long-Term Issuer Credit Rating of "bbb" (Good) of Mt. Morris Mutual Insurance Company (Mt. Morris) (Coloma, WI). At the time of the withdrawal, the Credit Ratings (ratings) were under review with negative implications. AM Best has withdrawn these ratings as the company has requested to no longer participate in AM Best's interactive rating process.

These ratings were downgraded on July 19, 2024 (see related press release), and while AM Best's procedure is for a final rating opinion to be produced in conjunction with a rating withdrawal, this could not be produced due to insufficient available data at the time of the rating event.

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 use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.

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 London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.