MLMIC Insurance Company received an A+ (Superior) Financial Strength Rating and a Long-Term Issuer Credit Rating of “aa-” (Superior) from AM Best, a global credit agency rating and information provider with a focus on the insurance industry. AM Best also reports, “The outlook assigned to these Credit Ratings is stable.”
“Our A+ rating is a testament of our financial strength and our commitment to protecting the policyholders and healthcare professionals we proudly serve,” says Michael Schoppmann, chief executive officer of MLMIC Insurance Company.
The announcement notes MLMIC’s long track record of favorable reserve development and adequate underwriting returns. In addition, according to AM Best, “The ratings reflect MLMIC’s balance sheet strength, which AM Best categorizes as strongest, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.”
The agency says that leadership has maintained “MLMIC’s leading market position within New York,” one of the “most challenging market environments” in the country.
Click here to view the news release.