The financial strength rating of “A-” (excellent) of Minneapolis-based Austin Mutual Insurance Co. was affirmed by A.M. Best. The outlook is stable. It reflects the company’s excellent capitalization, conservative balance sheet and local market knowledge. These factors are derived from management’s conservative operating strategy, effective use of automation for internal processing and long-standing agency relationships. Effective Oct. 1, 2003, Northern Mutual Insurance Co.’s assets and liabilities were transferred to Austin Mutual, and Northern Mutual was dissolved, leaving Austin Mutual with the stand-alone fiancial strength rating of “A-“.
Was this article valuable?
Here are more articles you may enjoy.
Remember the Fall of Patriot National? Trial in Suit vs. Mariano’s Lawyers to Begin 
Hellman & Friedman’s Hub International Seeks $3 Billion in IPO 
CSU Lowers Atlantic Hurricane Forecast to ‘Well Below Normal’ 
Ranking: Who Are the Insurance Industry’s AI Talent, Maturity Leaders? From This Issue
