Both CUMIS Insurance Society's and Producers AgricultureInsurance Co.'s financial strength ratings were affirmed at andupgraded to “A,” respectively, by credit ratings agency A.M.Best.
|In assigning the “A” rating to CUMIS and elevating ProAg from “A-” to “A,” A.M. Best cited both companies' stronglevel of risk-adjusted capitalization, according to CUNA MutualGroup.
|The A rating carries an “Excellent” designation, according toA.M. Best.
|The credit ratings agency cited CUMIS' conservative balancesheet, overall operating profitability and well-established nicheposition in the credit union marketplace, CUNA Mutual noted, addingA.M. Best said “The ratings further reflected the financialflexibility and diversified operations of CMFG.”
|CUMIS and ProAg are subsidiaries of CMFG Life Insurance Co.
|In upgrading ProAg, the ratings agency recognized the supportits reinsurance agreement with CUMIS provides, its business profileas one of the largest providers of crop insurance and itsexperienced management team, CUNA Mutual said.
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