MERCHANTS' LONG-TERM ISSUER CREDIT RATING - UPGRADED TO POSITIVE
May 5, 2022
AM Best upgraded Merchants Bonding Company’s Long-Term Issuer Credit Rating (ICR) outlook from stable to positive. AM Best bases a company's overall rating on the strength of four ‘building blocks’; balance sheet, operating performance, business profile, and enterprise risk management.
According to AM Best, the revised outlook “reflects Merchants Bonding’s long history of profitable operating performance, largely driven by solid underwriting results and growing investment earnings.”
“We’re extremely proud of this improvement and see it as a confirmation of our strategies,” says Merchants’ Chairman of the Board and President Larry Taylor. “Merchants is also especially pleased with our innovation rating of “Significant” by AM Best, which places us among the best carriers for innovation.” Merchants’ intense focus on innovation over the past year resulted in new divisions and programs designed to serve our customers more efficiently.
In addition to the revised element of its credit rating, AM Best affirmed Merchants’ Financial Strength Rating of A, and Long-Term ICR of “a”. Click here for the full assessment of Merchants Bonding Company by AM Best.
Merchants' continued success is underpinned by our commitment to common sense solutions, first class experiences for every relationship, and an engaging culture for all associates.
Read the A.M. Best Official News Release on businesswire.com