Frederick Mutual Insurance Company: May 1st, 2023
Frederick, Maryland
Frederick Mutual is celebrating 180 years in business throughout 2023!
The executive management team and Board of Directors are actively pursuing strategic initiatives to strengthen our financial position and provide flexibility to thrive in today’s dynamic and competitive environment. The Company recently reorganized to a mutual insurance holding company structure. Building on this momentum, Frederick Mutual’s leadership is taking meaningful steps toward a range of opportunities that will ensure the Company’s long-term success.
Frederick Mutual holds a Financial Stability Rating (“FSR”) of “A, Exceptional” with Demotech, Inc. This level of FSR is assigned to insurers who possess exceptional financial stability related to maintaining positive surplus as regards policyholders, liquidity of invested assets, an acceptable level of financial leverage, reasonable loss and loss adjustment expense reserves, and realistic pricing. Major real estate, financial and agency E & O contracts also recognize the Demotech FSR rating.
It is important to note that FMIC maintains a conservative investment portfolio; and a high-quality reinsurance program is in place to mitigate the impact of frequent and severe weather-related events on policyholder surplus.
Please note, the Company has withdrawn from the rating process with AM Best.
Thank you for doing business with Frederick Mutual Insurance!