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 Mergers & Acquisitions Trends
Was this article valuable?
Here are more articles you may enjoy.
BMW Recalls Hundreds of Thousands of Cars Over Fire Risk 
CFC Owners Said to Tap Banks for Sale, IPO of £5 Billion Insurer 
AIG’s Zaffino: Outcomes From AI Use Went From ‘Aspirational’ to ‘Beyond Expectations’ 
World’s Growing Civil Unrest Has an Insurance Sting 
