AM Best Assigns Credit Ratings to Cincinnati Equitable Insurance Company
July 17 2024 - 5:50PM
Business Wire
AM Best has assigned a Financial Strength Rating of A-
(Excellent) and a Long-Term Issuer Credit Rating of “a-”
(Excellent) to Cincinnati Equitable Insurance Company (Cincinnati
Equitable) (Cincinnati, OH). The outlook assigned to these Credit
Ratings (ratings) is stable.
The ratings reflect Cincinnati Equitable’s balance sheet
strength, which AM Best assesses as strong, as well as its adequate
operating performance, very limited business profile and
appropriate enterprise risk management.
The company will be used to distribute farm and country estate
business within the state of Pennsylvania. It is expected to begin
writing business in 2024 and will offer out-of-state premium
distribution for Michigan Farm Bureau Group. A quota share
agreement is in place to ensure that all insurance risk is
transported out of this entity. The company’s risk and operational
responsibilities will be handled by Michigan Farm Bureau Group and
MMG Insurance Company.
This press release relates to Credit Ratings that have been
published on AM Best’s website. For all rating information relating
to the release and pertinent disclosures, including details of the
office responsible for issuing each of the individual ratings
referenced in this release, please see AM Best’s Recent
Rating Activity web page. For additional information
regarding the use and limitations of Credit Rating opinions, please
view Guide to Best's Credit Ratings. For information
on the proper use of Best’s Credit Ratings, Best’s
Performance Assessments, Best’s Preliminary Credit Assessments and
AM Best press releases, please view Guide to Proper Use of
Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and
data analytics provider specializing in the insurance industry.
Headquartered in the United States, the company does business in
over 100 countries with regional offices in London, Amsterdam,
Dubai, Hong Kong, Singapore and Mexico City. For more information,
visit www.ambest.com.
Copyright © 2024 by A.M. Best Rating
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Christopher Lewis Financial Analyst +1 908 882
2014 christopher.lewis@ambest.com
Erik Miller Director +1 908 882 2120
erik.miller@ambest.com
Christopher Sharkey Associate Director, Public
Relations +1 908 882 2310
christopher.sharkey@ambest.com
Al Slavin Senior Public Relations Specialist +1
908 882 2318 al.slavin@ambest.com