Mt. Morris Mutual Insurance Company Earns Financial Stability Rating® of A, Exceptional, from Demotech, Inc.
COLUMBUS, Ohio, March 15, 2012 /PRNewswire/ -- Mt. Morris Mutual Insurance Company has earned a Financial Stability Rating® (FSR) of A, Exceptional, from Demotech, Inc. This level of FSR is assigned to insurers who possess exceptional financial stability related to maintaining positive surplus as regards policyholders, liquidity of invested assets, an acceptable level of financial leverage, reasonable loss and loss adjustment expense reserves (L&LAE) and realistic pricing.
FSRs summarize Demotech's opinion of the financial stability of an insurer regardless of general economic conditions or the phase of the underwriting cycle. FSRs utilize statutory financial data based on insurance accounting principles prescribed or permitted by the National Association of Insurance Commissioners (NAIC). Since 1989, FSRs of A or better have been accepted by the major participants in the secondary mortgage marketplace.
About Mt. Morris Mutual Insurance Company
Domiciled in Coloma, Wisconsin, Mt. Morris Mutual was organized on September 7, 1875, with the assistance of a Lutheran Minister and 12 farmers who each donated a dollar to start the Company. During the first 70 years of operation the Company wrote only fire coverage. In the 1950s and 1960s, coverages were expanded to windstorm and hail and special properties. In 1997, Mt. Morris requested and was granted 611 status expanding its market to all 72 counties in the state of Wisconsin. In 2004 non-assessability was obtained. June 16, 2008, Mt. Morris Mutual wrote its first automobile insurance policy.
As a multi-line carrier, Mt. Morris's offerings consist of farmowner, homeowner, mobile homeowner, dwelling, farm fire (fire and extended coverage), commercial, personal auto, commercial auto and umbrella policies. The company currently stands as the 5th largest writer of farmowner insurance in Wisconsin and serves over 18,000 policyholders in the state.
About Demotech, Inc.
Demotech, Inc. is a financial analysis firm located in Columbus, Ohio. Since 1985, Demotech has been serving the insurance industry by providing actuarial consulting and accurate and proven Financial Stability Ratings® (FSRs) for Property & Casualty insurance companies and Title underwriters. FSRs are a leading indicator of the financial stability of a company. Our rating process provides an objective baseline and insight into the future solvency of a company. As an independent financial analysis firm, Demotech has a proven track record of predicting financial stability in the insurance industry and has been leveling the playing field by offering FSRs to insurers of all sizes.
Visit www.demotech.com for more information.
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