Friday, September 11, 2020
HM Insurance Group’s Financial Strength Affirmed by AM Best
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.
“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 Group
HM 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.
Why HM
A strong, experienced carrier, HM responds to market changes and works with clients to ensure their coverage needs are met through expert risk assessment and exceptional delivery of benefits.
