Best Assigns ‘A-‘ Rating to MEM

December 27, 2004

A.M. Best Co. has assigned a financial strength rating of A- (Excellent) to Missouri Employers Mutual Insurance Company (MEM) (Columbia, Mo.). The rating outlook is stable.

The rating reflects MEM’s improved capitalization, good operating profitability and strong market profile as the leading workers’ compensation writer in Missouri.

MEM is a state fund that was organized in 1994 to provide a viable market for small and mid-sized employers throughout Missouri. MEM has met the marketplace needs by continuing to insure more than 18,000 Missouri businesses. MEM’s substantial increase in surplus over the last few years has lowered leverage measures to be more in line with the workers’ comp composite.

The company’s good operating performance is a result of its knowledge of the local marketplace, its relationships with hundreds of local producing agents and its competitive pricing and strong service standards and levels. MEM has also taken significant steps to improve underwriting selectivity, hazard analysis and operating efficiencies while continuing to meet the needs of its customers.

MEM is the sixth member of the American Association of State Compensation Insurance Funds (AASCIF) to maintain A.M. Best’s interactive financial strength rating.

A.M. Best recognizes the important role of state funds in the workers’ comp system and plans to assign financial strength ratings to additional AASCIF members in 2005.

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