AM Best has assigned a financial strength rating of ‘A-’ (Excellent) and a long-term issuer credit rating of ‘a-’ (Excellent) to Cincinnati Equitable Insurance.
The outlook assigned to these credit ratings is ‘stable’.
The ratings reflect Cincinnati Equitable's balance sheet strength, which AM Best considers strong, as well as its adequate operating performance, very limited business profile, and appropriate enterprise risk management.
The company will distribute to farm and country estate businesses in Pennsylvania. It is expected to begin writing business in 2024 and will offer out-of-state premium distribution for Michigan Farm Bureau Group.
Michigan Farm Bureau Group and MMG Insurance Company will handle the company's risk and operational responsibilities.
