Grinnell Mutual Receives 'A' Rating from A.M. Best
Grinnell Mutual earned another 'A' rating from A.M. Best, the premier rating organization for the insurance industry. The 'A' rating, combined with a stable outlook for the future, applies to both Grinnell Mutual Reinsurance Company and Grinnell Select Insurance (GSI).
“Grinnell Mutual’s ‘A’ rating is significant, especially in light of the severe weather experienced by Midwesterners in the past few years. This rating is both a challenge and an honor to maintain,” explained President and Chief Executive Officer Steve Crawford. “Other companies, including our reinsurers, look closely at our rating. Having a positive rating with a stable outlook is reassuring to the regulators, financial institutions, policyholders, and agents.”
According to A.M. Best, “The rating reflects Grinnell Mutual’s strong risk-adjusted capitalization, solid five-year operating strategy and well-established market position as a leading reinsurer of farm mutuals in the Midwestern United States."
Grinnell Mutual has held an 'A' rating from A.M. Best since 1991. Grinnell Mutual Reinsurance Company has been in business since 1909 providing reinsurance for farm mutual insurance companies and property and casualty insurance products for homeowners, farmowners and businessowners through nearly 1,600 independent agents in 12 Midwestern states. Grinnell Mutual is the largest primary reinsurer of farm mutual companies in North America.