Rating Agency Returns CUNA Mutual Outlook to ‘Stable’
The “A” or “Excellent” rating applies to the principal companies of CUNA Mutual – CUNA Mutual Insurance Society, a life and health insurer, and CUMIS Insurance Society Inc., a property and casualty subsidiary.
A.M. Best also affirmed the “A-‘’ (Excellent) financial strength ratings of Producers Agriculture Insurance Co. and Producers Lloyds Insurance Co. with a stable outlook. A.M. Best noted ProAg’s historical operating profitability and strong agency relations in affirming these ratings, according to CUNA Mutual.
The financial strength rating of MEMBERS Life, “a dormant downstream life company that is not core to CUNA Mutual’s operations,” was affirmed at B++ (Good) with a stable outlook, the company said.
“During these difficult economic times, CUNA Mutual has worked hard to keep premiums down, deliver greater value to credit unions and their members through our products and services, and still grow our company's financial strength.,” said Jeff Post, president/CEO of CUNA Mutual. “We’re pleased A.M. Best acknowledges our strong performance in affirming our rating and upgrading our outlook to stable.”