Providence Mutual works with some of the leading rating services for insurance companies to do an independent analysis of our financial strength each year. Our ratings demonstrate our ability to meet financial obligations, our focus on policyholders as a mutual company, and our commitment to our loyal independent agent partners.
In April 2022, Providence Mutual received an A- (Excellent) with a stable outlook in financial strength rating from the Kroll Bond Rating Agency (KBRA). Click here to view the report. To access ratings and relevant documents, click here.
“The company received a positive rating for its strong commitment to Mutuality and its members, local market knowledge, and long-term customer relationships. KBRA reports that Providence Mutual’s management continues to prioritize the long-term financial strength of the enterprise, with catastrophe reinsurance covering close to a 250-year event. “
The Financial Stability Rating® (FSR) of A’ (A Prime), Unsurpassed, assigned to Providence Mutual Fire Insurance Company has been affirmed by Demotech, Inc. Click here to read more.
“This level of FSR is assigned to insurers who possess unsurpassed financial stability related to maintaining positive surplus as regards policyholders, liquidity of invested assets, an acceptable level of financial leverage, reasonable loss and loss adjustment expense reserves (L&LAE) and realistic pricing.”
