A.M. Best Assigns Ratings to Arkansas Mutual Insurance Company

OLDWICK, N.J.--(BUSINESS WIRE)-- A.M. Best has assigned a financial strength rating of A (Excellent) and an issuer credit rating of “a” to Arkansas Mutual Insurance Company (AMIC) (Little Rock, AR). The outlook assigned to both ratings is stable.

The ratings are reflective of MMIC Insurance, Inc.’s (MMIC) acquisition of AMIC in 2015, AMIC’s new role as a strategic reinsured subsidiary of MMIC and the explicit support provided to AMIC by MMIC in the form of quota share and loss portfolio reinsurance. AMIC was acquired by MMIC, effective July 31, 2015, to give MMIC a presence in the medical professional liability sector in Arkansas and to give AMIC the ability to expand its market profile into hospitals and larger physician groups. The contracts were effective upon close of the acquisition. In addition, MMIC made a substantial capital contribution to AMIC, a portion of which was used to extinguish its subordinated surplus notes.

This press release relates to rating(s) that have been published on A.M. Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please visit A.M. Best’s Ratings & Criteria Center.

A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2015 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

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A.M. Best Company
Charles M. Huber, 908-439-2200, ext. 5122
Assistant Vice President
[email protected]
or
Daniel J. Ryan, 908-439-2200, ext. 5325
Vice President
[email protected]
or
Christopher Sharkey, 908-439-2200, ext. 5159
Manager, Public Relations
[email protected]
or
Jim Peavy, 908-439-2200, ext. 5644
Assistant Vice President, Public Relations
[email protected]

Source: A.M. Best Company

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