A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating of A (Excellent) and issuer credit rating of “a” of Badger Mutual Insurance Company (Badger) of Milwaukee, Wis.
The negative outlook reflects the deterioration in Badger’s underwriting results, coupled with losses to the company’s surplus in recent years. The deterioration in underwriting performance was due to Badger’s exposure to significant weather-related losses, which led to three consecutive years of negative underwriting performance.
The affirmation of the ratings reflects Badger’s strong risk-adjusted capitalization and long-term agency relationships.
Source: A.M. Best
Was this article valuable?
Here are more articles you may enjoy.
Florida Mobile Home Insurance Market Still Struggling With Premiums, Coverage 
Wall Street Banks Try Out Anthropic’s Mythos 
Three Sentenced in Bear-Suit Attacks Insurance Fraud Case 
Electric Bills in Coal Country West Virginia Now Top Mortgage Payments 
