AM Best announced on Nov. 15 that it has affirmed the Economical Mutual Insurance Company’s financial strength rating of A- (Excellent) and its issuer credit rating of "a-". The outlook for these ratings remains stable.
In its rating announcement, AM Best acknowledged Economical's strong capitalization, and commitment to organizational and operational transformations through investments in its personal lines broker business and development of its digital direct brand Sonnet.
Philip Mather, executive vice president and chief financial officer of Economical Insurance, stated that the company is pleased “that AM Best has once again affirmed its ratings and stable outlook for Economical, which demonstrates our continued financial strength. Economical is committed to being a strong, stable and disciplined company as we pursue demutualization and prepare to become a publicly traded company."
