AM Greatest has assigned Monetary Power Score of A- (Wonderful) and Lengthy-Time period Issuer Credit score Rankings of “a-” (Wonderful) to Previsor Insurance coverage Firm (Centennial, Colo., MEM Shield Insurance coverage Firm, MEM Protect Insurance coverage Firm and MEM Safe Insurance coverage Firm. The outlooks assigned to those Credit score Rankings (scores) is steady. Collectively, these corporations are known as Underwriting Entities. All corporations are domiciled in Columbia, Missouri, until in any other case specified and have an intercompany pooling settlement with MEM Mutual Insurance coverage Firm (previously Missouri Employers Mutual and Previsor) and are reinsured associates of MEM Mutual Insurance coverage Group.
The scores mirror the stability sheet energy of MEM, which AM Greatest assesses as very sturdy, in addition to its enough working efficiency, restricted enterprise profile and acceptable enterprise danger administration.
MEM focuses on staff’ compensation insurance coverage, notably throughout the Midwest area. The Underwriting Entities are strategically essential to the Group as MEM Shield, MEM Protect and MEM Safe had been established as a part of MEM’s ongoing strategic initiative, which transition from a public state-sponsored mutual insurance coverage firm to a personal one, efficient Jan. 1, 2025. Previsor has been a completely owned subsidiary of MEM since its buy in 2011. The transition will permit MEM to raised serve its prospects, in addition to increase geographically and streamline operations. The Underwriting Entities will profit from a 100% inside reinsurance settlement and from shared frequent administration and operational capabilities with MEM.
Supply: AM Greatest
Subjects
AM Best
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