A.M. Best Upgrades Ratings of ECM Insurance Group and 1st Choice Auto ...
A.M. Best Co. has upgraded the financial strength ratings (FSR) to A- (Excellent) from B++ (Good) and issuer credit ratings (ICR) to “a-” from “bbb+” of ECM Insurance Group (Group), its member, Everett Cash Mutual Insurance Company (Everett Cash Mutual) and 1st Choice Auto Insurance Company, Inc. (1st Choice Auto), the direct subsidiary of Everett Cash Mutual. The outlook for these ratings is being revised to stable from positive.
In addition, A.M. Best has affirmed the FSR of B++ (Good) and ICR of “bbb” of Ever-Greene Mutual Insurance Company (Ever-Greene), an affiliate of Everett Cash Mutual. The outlook for these two ratings is stable. All companies are domiciled in Everett, PA.
The rating actions on the Group reflect its excellent risk-adjusted capitalization, solid underwriting and operating performance in its niche market of farm owners/small commercial coverages and its conservative investment portfolio. The rating upgrades also reflect A.M. Best’s expectation
