U.S. markets close in 15 minutes
  • S&P 500

    3,694.43
    +27.71 (+0.76%)
     
  • Dow 30

    30,188.25
    +218.73 (+0.73%)
     
  • Nasdaq

    12,448.53
    +71.35 (+0.58%)
     
  • Russell 2000

    1,887.69
    +38.99 (+2.11%)
     
  • Crude Oil

    46.00
    +0.36 (+0.79%)
     
  • Gold

    1,840.40
    -0.70 (-0.04%)
     
  • Silver

    24.29
    +0.15 (+0.63%)
     
  • EUR/USD

    1.2127
    -0.0022 (-0.18%)
     
  • 10-Yr Bond

    0.9690
    +0.0490 (+5.33%)
     
  • GBP/USD

    1.3425
    -0.0028 (-0.21%)
     
  • USD/JPY

    104.1400
    +0.2800 (+0.27%)
     
  • BTC-USD

    18,947.37
    -310.21 (-1.61%)
     
  • CMC Crypto 200

    371.44
    -7.80 (-2.06%)
     
  • FTSE 100

    6,550.23
    +59.96 (+0.92%)
     
  • Nikkei 225

    26,751.24
    -58.13 (-0.22%)
     

AM Best affirms "A- (Excellent)" financial strength rating for Economical Insurance

·1 min read

WATERLOO, ON, Nov. 20, 2020 /CNW/ - AM Best affirmed today the financial strength rating of A- (Excellent) and issuer credit rating of "a-" for Economical Mutual Insurance Company. The outlook for these ratings remains stable.

AM Best affirmed today the financial strength rating of A- (Excellent) and issuer credit rating of “a-” for Economical Mutual Insurance Company.  The outlook for these ratings remains stable. (CNW Group/Economical Insurance)
AM Best affirmed today the financial strength rating of A- (Excellent) and issuer credit rating of “a-” for Economical Mutual Insurance Company. The outlook for these ratings remains stable. (CNW Group/Economical Insurance)

"We are pleased that AM Best has affirmed its ratings and stable outlook for Economical, which demonstrates our continued financial strength," said Philip Mather, executive vice president and chief financial officer of Economical Insurance. "Economical is committed to being a strong, stable and disciplined company as we pursue demutualization and prepare to become a publicly traded company."

In its rating announcement, AM Best acknowledged Economical's scale, strong capitalization, favourable reserve development, established risk management processes and operational investments to support improvements in risk selection and underwriting results.

For more information about AM Best's ratings, visit www.ambest.com.

About Economical Insurance
Economical Mutual Insurance Company ("Economical" or "Economical Insurance", which includes its subsidiaries where the context so requires) is a leading property and casualty insurer in Canada, with approximately $2.7 billion in annualized gross written premiums and over $6.4 billion in assets as at September 30, 2020. Economical is a Canadian-owned and operated company that services the insurance needs of more than one million customers.

SOURCE Economical Insurance

Cision
Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2020/20/c7609.html