SFM Mutual Insurance Co. has received a Financial Strength Rating of “A- (Excellent)” and a Long-Term Issuer Credit Rating of “a-“ from AM Best Rating Services, Inc. The rating was announced in a press release issued by A.M. Best on March 2, 2020.
The ratings reflect AM Best’s assessment of SFM’s balance sheet strength, as well as its operating performance, business profile and enterprise risk management.
“We are very pleased to receive this rating from AM Best,” said SFM President and CEO Terry Miller. “We view their assessment of our financial stability as an important indicator of our operation’s excellent performance and practices.”
SFM, headquartered in Bloomington, Minnesota, is a customer-owned mutual insurance company providing Minnesota, Wisconsin, Iowa, Nebraska and South Dakota employers with workers' compensation coverage. Beyond its core territory, SFM is licensed and operating in 25 additional states. SFM offers workers' compensation insurance solutions for employers of all sizes, including claims and disability management, cost containment, legal assistance and third-party administration. For more information, visit www.sfmic.com.
About AM Best
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com .