AM Best Revises Outlook to Stable for Ohio Mutual Insurance Group’s Members

AM Best has revised the outlook to stable from negative for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) for the members of Ohio Mutual Insurance Group (OMIG) based in Bucyrus. The outlook of the FSR is stable. The ratings reflect OMIG’s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management. The revision of the Long-Term ICR outlook to stable from negative reflects the improvement in OMIG’s operating performance resulting from management initiatives implemented over the past few years. Following consecutive underwriting losses in 2022 and 2023, attributable to an unusually high level of catastrophe losses and increased loss severity due to rising inflation, OMIG’s management implemented initiatives to support future profitability. Management has addressed this volatility through rate increases and inflation adjustments, aggressive re-underwriting of the book of business, the non-renewal of certain policies, in-depth inspections and higher deductible requirements. These actions have led to improved performance in subsequent years. OMIG has remained profitable in 2026 despite the impact of a large catastrophe that absent these initiatives would have had a greater effect on the group. The continued improvement as these initiatives have taken hold demonstrates that the actions are sustainable and effective. AM Best expects these actions to continue to sustain OMIG’s strong operating performance and align results with historical performance. Source: AM Best Topics Trends AM Best Ohio Was this article valuable? Thank you! Please tell us what we can do to improve this article. Thank you! % of people found this article valuable. Please tell us what you liked about it. Here are more articles you may enjoy.