News

AM Best Upgrades Issuer Credit Ratings and Affirms Financial Strength Ratings of HM Insurance Group Companies

September 23, 2021

Following its annual financial review, AM Best has upgraded the Long-Term Issuer Credit Ratings (Long-Term ICR) to “a+” (Excellent) from “a” (Excellent) and affirmed the Financial Strength Rating (FSR) of A (Excellent) for HM Life Insurance Company, HM Life Insurance Company of New York and Highmark Casualty Insurance Company, all part of HM Insurance Group (HM). The outlook for all ratings is stable.

These ratings reflect balance sheet strength, which AM Best assesses as strongest, as well as adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).

“We are pleased to see AM Best’s continued acknowledgement of our financial strength,” Caleb Knier, chief financial officer, HM Insurance Group, said. “When you’re in the business of providing protection against the financial impact of catastrophic medical claims, you want your brokers and clients to have confidence in your ability to meet your obligations. These ratings help to reinforce our customers’ trust that HM is a stable, well-capitalized carrier.”

The companies of HM Insurance Group were reviewed as part of the annual evaluation of Highmark Inc., of which HM is a diversified business.

 

About HM Insurance GroupHM Insurance Group (HM) provides insurance and reinsurance coverage to protect businesses from the financial risk associated with catastrophic health care costs. A recognized leader in Employer Stop Loss, the company delivers protection for a range of group sizes. HM also offers managed care solutions, including Provider Excess Loss insurance and Health Plan Reinsurance. HM Life Insurance Company, HM Life Insurance Company of New York and Highmark Casualty Insurance Company are all rated “A” (Excellent) by AM Best Company. Through its insurance companies, HM Insurance Group holds insurance licenses in 50 states and the District of Columbia and maintains sales offices across the country. Learn more on hmig.com.