For Immediate Release
February 10, 2021
Media Contact: Thomas Thamm
MONTPELIER, Vermont (February 10, 2021)—For the seventh consecutive year, Vermont Mutual Insurance Group® has earned a Financial Strength Rating of A+ (Superior) from AM Best, the premier global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.
AM Best’s Financial Strength Rating is an independent appraisal of an insurer’s financial strength and their ability to meet policy and contract obligations. The internationally recognized rating is the result of a comprehensive examination of a company’s finances and operations. AM Best acknowledged Vermont Mutual’s very strong Balance Sheet, their strong Operating Performance, favorable Business Profile and appropriate Enterprise Risk Management in its assessment of the company’s operations and results.
“We could not be more pleased with the A+ superior designation from AM Best." stated Dan Bridge, Vermont Mutual’s President and CEO. Bridge continued "The A+ rating is widely acknowledged in our industry as a reliable indicator of an insurer's superior financial strength. The affirmation speaks directly to Vermont Mutual's financial stability and stands as a testament to our ability to meet the expectations of our policyholders and to be there when needed most. Additionally, the rating provides our valued independent insurance agents additional confidence when recommending Vermont Mutual to their customers."
Executive Vice President & COO, Mark McDonnell, added “Remaining a financially strong and secure company is paramount. The A+ designation from AM Best offers both our customers and our independent agency partners the peace of mind that Vermont Mutual remains the stable and predictable partner they've grown to rely on, which takes on even greater importance during these challenging economic times.
Vermont Mutual Insurance Group® is a trade name of Vermont Mutual Insurance Company, Northern Security Insurance Company, Inc. and Granite Mutual Insurance Company. Chartered in 1828, Vermont Mutual is one of the ten oldest mutual property/casualty insurers in the United States and provides coverage throughout New England and upstate New York. Through more than 400 independent agencies, the Group insures over 315,000 policyholders, with a direct written premium of more than $500,000,000. The group is rated “A+ Superior” by A. M. Best and a Ward’s Top 50 performing property/casualty insurer in the U.S. for the past twelve consecutive years.