A.M. Best assigns financial strength rating of ‘A-‘ to Saskatchewan Mutual

A.M. Best has assigned a financial strength rating of ‘A-‘ (Excellent) and an issuer credit rating of ‘a-‘ to Saskatchewan Mutual Insurance Company.

The outlook for the ratings is stable.

“The ratings and outlook for SMI are reflective of the company’s strong risk-adjusted capitalization, favourable balance sheet liquidity measures and modest underwriting leverage,” an A.M. Best release says.

“Partially offsetting these positive factors are SMI’s elevated expense ratio and the potential challenges with modernizing several technology platforms to improve efficiencies.”