Mechanicsburg, Pa. (Jan 27, 2017) – CM Regent Insurance Company has earned a financial strength rating of "A" (excellent) by one of the oldest and most widely recognized providers of ratings and financial data in the insurance industry.
A.M. Best in late December 2016 upgraded the financial strength rating of CM Regent to "A" (excellent) from "B++" (good).
"That 'A' is significant because ratings have become increasingly important in helping consumers make buying decisions," said Roy Jacobs, president of CM Regent. "Insurance brokers also use Best's ratings to help support their insurance carrier selection."
A.M. Best also upgraded CM Regent's long-term issuer credit rating to "a" from "bbb" and assigned CM Regent a financial size category of X, meaning the company has a policyholder surplus size in excess of $500 million. The outlook of these credit ratings is stable.
"The rating upgrades reflect the approval of the 100 percent reinsurance agreement between CM Regent and its parent, Church Mutual Insurance Company, by the Pennsylvania and Wisconsin regulatory authorities," according to A.M. Best.
In announcing the rating upgrades, A.M. Best noted that CM Regent will benefit from the "implicit support" it receives from Church Mutual, which acquired the company in June 2016. Those benefits include greater access to capital, an expanded platform into other compatible markets and new broker relationships, according to A.M. Best.
"The shared missions of Church Mutual and CM Regent in protecting organizations that improve the human condition have set us up for success," said Kevin Root, senior vice president – operations at Church Mutual. "We are excited for the future and deepening our financial strength, expertise and commitments to our policyholders and communities."
A.M. Best had last rated CM Regent in June 2016 when it upgraded the financial strength rating of CM Regent to "B++" (good) from "B+" (good).
CM Regent Insurance Company is a leading commercial property and liability insurance company dedicated to serving K-12 public schools and colleges. It offers commercial property and liability insurance, workers’ compensation, school leaders' legal liability, excess liability, privacy protection and owner-controlled insurance. For more than 40 years, CM Regent been a trusted expert in providing protection and risk control advice to schools.
Church Mutual Insurance Company, founded in 1897, offers specialized insurance for religious organizations of all denominations, as well as schools, camps, denominational offices and senior living facilities. Church Mutual markets most lines of commercial property and liability insurance, including multi-peril, workers' compensation and commercial auto insurance. In addition to insurance, Church Mutual provides a spectrum of value-added solutions that benefit its customers. Church Mutual holds the following honors:
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