Wednesday, August 31, 2022
Following the annual financial review, AM Best affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) for HM Life Insurance Company, HM Life Insurance Company of New York and Highmark Casualty Insurance Company, all part of HM Insurance Group (HM). The outlook for all ratings is stable.
These ratings reflect balance sheet strength, which AM Best assesses as strongest, as well as adequate operating performance, favorable business profile and appropriate enterprise risk management (ERM).
“AM Best’s continued acknowledgement of HM Insurance Group’s financial strength is essential for clients to have confidence while placing their business with us,” Caleb Knier, chief financial officer, HM Insurance Group, said. “We’re a stable, well-capitalized carrier, and therefore, our clients can count on our ability to meet our obligations and deliver the financial risk protection they need in a market where catastrophic claim costs continue to rise.”
The companies of HM Insurance Group were reviewed as part of the annual evaluation of Highmark Inc., of which HM is a diversified business.
About HM Insurance Group
HM Insurance Group (HM) provides insurance and reinsurance coverage to protect businesses from the financial risk associated with catastrophic health care costs. A recognized leader in Employer Stop Loss, the company delivers protection for a range of group sizes. HM also offers managed care solutions, including Provider Excess Loss insurance and Health Plan Reinsurance. HM Life Insurance Company, HM Life Insurance Company of New York and Highmark Casualty Insurance Company are all rated “A” (Excellent) by AM Best Company. Through its insurance companies, HM Insurance Group holds insurance licenses in 50 states and the District of Columbia and maintains sales offices across the country. Learn more on hmig.com.
A strong, experienced carrier, HM responds to market changes and works with clients to ensure their coverage needs are met through expert risk assessment and exceptional delivery of benefits.