AM Best has revised the outlooks to stable from positive and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” of Missouri Valley Mutual Insurance Co. (Missouri Valley) in Burke, South Dakota.
Missouri Valley provides property/casualty lines of insurance in South Dakota, including: personal and commercial automobile; homeowners and mobile home; farm and ranch; personal and general liability; umbrella liability; and fire and allied line.
The ratings reflect Missouri Valley’s balance sheet strength, which AM Best categorizes as adequate, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
The revised outlooks are based on Missouri Valley’s flat to negative policyholders’ surplus growth in recent years, driven by a deterioration in underwriting results and operating performance from an increased frequency and severity of storm losses.
The rating affirmations reflect Missouri Valley’s strongest level of risk-adjusted capitalization, modest underwriting leverage and adequate five-year operating return measures.
These positive factors are partially…
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