Frankenmuth Insurance is pleased to share that AM Best has affirmed our Financial Strength Rating* of “A” (Excellent) with a stable outlook. Our Issuer Credit Rating, Best’s opinion of our credit worthiness and ability to meet senior financial obligations, has also been affirmed with an “a+” and a stable outlook.

In explaining the basis for our ratings, Best cited our strong capitalization, positive after-tax income in eight of the last 10 years, attempts to lessen risk from geographic concentration and strong agency relationships. Best also referenced our adherence to a conservative loss reserving philosophy and the strategic initiatives we’ve undertaken to improve underwriting profitability. 

The continuous improvement of our underwriting expense ratio was also mentioned — in fact, this ratio over the past five years has outpaced our commercial casualty peers.  Most notably, however, is our ability to achieve this even with the significant investment we are making to transform our technologies and processes for ease of doing business.

The ratings for our life insurance subsidiary, Patriot Life Insurance Company, were also affirmed. Its current Financial Strength Rating is “A” (Excellent) and its Issuer Credit Rating is “a” (Strong), both with a stable outlook.

Thank you for helping us earn these “A” ratings. We appreciate the trust you place in us and couldn’t do this without you. We’ll keep earning that trust through our commitment to consistent profitability and continuous improvement, which is the foundation for our mutual success.

*AM Best’s ratings represent its assessment of Frankenmuth Mutual Insurance Company and its property and casualty insurance subsidiaries: Ansur America Insurance Company, Patriot Insurance Company, ASure Worldwide Insurance Company and Fortuity Insurance Company.