AM Best Upgrades Credit Ratings of Eastern Mutual Insurance Company
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” from “a-” of Eastern Mutual Insurance Company (Eastern Mutual) (Greenville, NY). The outlook of these Credit Ratings (ratings) has been revised to stable from positive.
These ratings reflect Eastern Mutual’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management (ERM).
The rating upgrades reflect Eastern Mutual’s ability to maintain risk-adjusted capitalization at the strongest level consistently, as measured by Best’s Capital…