Report title: Merchants Mutual
from Fitch Research
6 page (2817 word) report published Jun 06, 2007

Price $425.00 available for immediate download
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...Merchants Mutual Insurance Compan y s (Merchants Mutual s) rating was affirmed based on its expertise in chosen insurance markets, solid capital position, conservative investment portfolio and adequate reserves. The company s rating is te mpered by its modest size, high expense ratio and elevated catastrophe exposure given the geographic concentration of premiums. In late ####, American European Group (AEG) agreed to sell the renewal rights of Merchants New Hampshire s (MNH s) book of business to Merchants Mutual for approximately $#.# million. Merchants Mutual has formed a new subsidiary, Merchants Preferred Insurance Company (Merchants Pref erred), with the intention of renewing all of MNH s business. AEG and Merchants Mutual have entered into a noncompete agreement where certain classes of business cannot be targeted for up to two y ears. Fitch Ratings views Merchants Preferred as a core operation to Merchants Mutual and thus has extended the group rating methodology...

Report Type: Full Rating Report
Company(ies): Merchants Mutual Insurance Company
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