LIVONIA, Mich., April 2 /PRNewswire/ -- American Community Mutual Insurance Company, a leading provider of individual and group health insurance, announces that A.M. Best Company, a nationally recognized authority devoted to issuing financial strength ratings on insurance companies, has upgraded the company’s financial strength rating to a “B (Fair)” from a “B-" with a positive outlook. The Best Rating is an independent third-party opinion, based on a comprehensive evaluation of a company’s balance sheet strength, operating performance and business profile.
The improved rating affirms American Community’s ability to meet its obligations to its policyholders, and shows that the industry has taken note of the company’s three years of continuous monthly profitability.
According to A.M. Best, “the upgrade reflects American Community’s considerably improved surplus position and favorable operating results over the past few years. The company has taken a number of corrective actions to return to underwriting profitability, which included implementing rate increases, tightening underwriting standards and more accurately pricing the risks being written. In addition, American Community continues its expense reduction efforts and technological advancements.”
“Our upgraded A.M. Best rating sends a message of confidence to our agents and policyholders,” said American Community President & CEO Gerald Meach. “It underscores the improved financial and underwriting results we’ve experienced for the last three years, which are continuing into 2004.”
About American Community
Founded in 1938, American Community Mutual Insurance Company was the first health insurance company in Michigan, and is one of the oldest in the nation. Based in Livonia, Michigan, American Community markets individual and group health insurance products in eight states through an agency force of over 5,000. The company provides high quality, affordable coverage to approximately 200,000 people. For more information, visit http://www.american-community.com/ .
American Community Mutual Insurance Company
CONTACT: Kim Van Kirk of Smith-Winchester, +1-248-352-3333,kim@smith-winchester.com , for American Community Mutual Insurance Company
Web site: http://www.american-community.com/
