Best affirmed the financial strength rating of “A-” (excellent) of Minneapolis-based Austin Mutual Insurance Co. The rating outlook is stable and reflects the company’s excellent capitalization, conservative balance sheet and local market knowledge. These factors are derived from management’s conservative operating strategy, effective use of automation for internal processing and long-standing agency relationships. Effective Oct. 1, 2003, Northern Mutual Insurance Co.’s assets and liabilities were transferred to Austin Mutual, and Northern Mutual was dissolved, leaving Austin Mutual with the stand-alone financial strength rating of “A-.”
Was this article valuable?
Here are more articles you may enjoy.
Florida Needs More – Much More – Wind Mitigation, Say Experts at OIR Summit 
Palm Beach Billionaires Feud Over Who’s Really Protecting the Everglades 
Are ‘Moderate’ Hurricanes Getting Squeezed Out of the Atlantic? 
California Insurance Commissioner Race Has Diverse Field Amid ‘Insurance Crisis’ From This Issue
