Following the annual review of financial results, the Financial Strength Ratings (FSR) of HM Life Insurance Company and HM Life Insurance Company of New York were affirmed as “A” (Excellent) by AM Best Company, which also upgraded the rating of Highmark Casualty Insurance Company to A (Excellent) from A- (Excellent). The outlook for all ratings is stable.
“Continued acknowledgement of our financial strength by AM Best gives both brokers and clients confidence in our ability to guard financial health,” Caleb Knier, chief financial officer, HM Insurance Group, said. “After all, when they are recommending or purchasing our products, they’re looking for coverage against the financial impact of catastrophic claims, and they want to know that we are able to honor our commitment to delivering the protection needed.”
The companies of HM Insurance Group (HM) were reviewed as part of the evaluation of Highmark Inc., of which HM is a diversified business. According to AM Best, the ratings for the companies involved reflect Highmark Inc. Group’s balance sheet strength, which AM Best categorizes as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
About HM Insurance GroupHM Insurance Group (HM) works to protect businesses from the potential financial risk associated with catastrophic health care costs. The company provides reinsurance solutions that address risk situations confronting employers, providers and payers. A recognized leader in employer stop loss, HM also offers managed care reinsurance nationally. 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. For more information about HM Insurance Group, visit hmig.com.