Best Assigns ‘B++’ Ratings to Oswego; Outlook Positive

A.M. Best Co. has assigned an issuer credit rating (ICR) of “bbb+” and affirmed the financial strength rating (FSR) of ‘B++’ (Good) of Oswego County Mutual Insurance Company of Parish, NY.

Best also revised its outlook in the FSR to positive from stable, and assigned a positive outlook to the ICR.

“The ratings reflect Oswego’ s favorable risk-adjusted capitalization, low underwriting leverage and consistent investment income,” said Best. “Additionally, Oswego’ s more than 125-year tenure in northern central New York has led to significant local market knowledge of the upstate New York property market.

“The rating outlook is based upon the company’ s improved underwriting performance and steadily growing surplus base.”

Source: A.M. Best – www.ambest.com