A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating of B+ (Good) and issuer credit rating of “bbb-” of Partners Mutual Insurance Company (Partners) of Waukesha, Wis.
The negative outlook reflects Partners’ trend of operating losses that have caused a decline in its risk-adjusted capitalization at a time of highly competitive market conditions.
The ratings also reflect Partners’ adequate capitalization and long-standing agency relationships. Offsetting these positive factors are the company’s recent trend of deteriorating underwriting performance, elevated expense structure and geographic concentration of risks that exposes it to severe weather-related events.
Source: A.M. Best
Topics Trends Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
Flood Insurance Gap Will Squeeze Local Governments and Homeowners, Moody’s Says 
Virginia’s New Gun Laws Challenged by Some Local Prosecutors and Lawsuits 
‘We’ll Want Some Proof’: State Farm CEO’s Take on NY Auto Insurance Reforms 
Trump Says Illegal Immigration Increased Car Insurance but Experts Say Otherwise 
