Wednesday, July 10, 2019
AM Best Best Affirms “A” Rating of HM Insurance Group’s Life Companies
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 A.M. Best Company. The outlook for the ratings remains stable.
“This acknowledgement of our financial strength validates our continued work to achieve stable, predictable results in a challenging market,” Tom Doran, president, HM Insurance Group, said. “With the growth in high-dollar claims, it’s important that our clients know we can honor our commitment to guarding their financial health.”
In addition, Highmark Casualty Insurance Company was affirmed as “A-” (Excellent), a rating that reflects consistently positive operating results, but a lower level of premium and earnings due to the majority of HM’s Stop Loss business being with HM Life Insurance Company.
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 A.M. Best, the ratings for the companies involved reflect Highmark Group’s balance sheet strength, which A.M. 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.
