AM Best Revises Issuer Credit Rating Outlook to Positive for Members of A.I.M. Mutual Insurance Companies

JULY 16, 2024 02:50 PM (EDT)

AM Best Revises Issuer Credit Rating Outlook to Positive for Members of A.I.M. Mutual Insurance Companies

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FOR IMMEDIATE RELEASE

OLDWICK - JULY 16, 2024 02:50 PM (EDT)
AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Ratings (Long-Term ICRs) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of "a" (Excellent) of Associated Industries of Massachusetts Mutual Insurance Company and its reinsured subsidiaries Associated Employers Insurance Company, Massachusetts Employers Insurance Company and New Hampshire Employers Insurance Company, which are members of A.I.M. Mutual Insurance Companies (A.I.M. Mutual). The outlook of the FSR is stable. All companies are headquartered in Burlington, MA.

The Credit Ratings (ratings) reflect A.I.M. Mutual's balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.

The positive outlook for the Long-Term ICRs is driven by the group's operational performance, which is reflective of strong underwriting results and investment income that contributes to continuous surplus growth. The group's historically consistent favorable reserve development also was considered in the revised outlook for the Long-Term ICRs. AM Best expects A.I.M. Mutual will continue to outperform its peers on key operating metrics.

A.I.M. Mutual specializes in providing workers' compensation insurance coverage in the commonwealth of Massachusetts and New Hampshire.

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.