Fremont Michigan InsuraCorp, Inc. announced today that the rating of its insurance subsidiary, Fremont Insurance Co., has been upgraded by rating agency A.M. Best to “B++” (very good).
The Best’s Financial Strength Rating is an independent third-party opinion as to an insurer’s financial strength and ability to meet its ongoing obligations to policyholders. The rating is based on a comprehensive evaluation of an insurer’s balance sheet strength, operating performance and business profile, Fremont noted.
A.M. Best noted the following items in their rating upgrade of Fremont: well-established presence as a writer of homeowners insurance in Michigan, strong capitalization, improved overall operating results, tightened underwriting guidelines, and expansion into areas of Michigan with less weather-related loss exposure.
“We are very pleased with A.M. Best’s decision to upgrade Fremont Insurance’s rating to B++,” said Richard E. Dunning, president and CEO of Fremont Michigan InsuraCorp, Inc. “The upgrade from A.M. Best sends a strong message of confidence to our policyholders, independent agents and our shareholders.”
Fremont Michigan InsuraCorp, Inc., through its wholly-owned subsidiary Fremont Insurance Co., provides property and casualty insurance to individuals, small businesses and farms throughout the state of Michigan and is represented by 170 independent insurance agencies doing business only in Michigan.
Source: Fremont Michigan InsuraCorp, Inc.
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