Ratings of Ohio’s Wayne Mutual Insurance Upgraded January 26, 2021
The outlook of these ratings has been revised to stable from positive.
Wayne Mutual Insurance Co. is part of the Wayne Insurance Group, which also offers insurance through Washington Mutual Insurance Association. The group provides home, farm, automobile and business owners insurance throughout Ohio via a network of more than 140 independent insurance agents.
The ratings reflect Wayne Mutual’s balance sheet strength, which AM Best categorizes as very strong, strong operating performance, limited business profile and appropriate enterprise risk management.
The rating upgrades reflect Wayne’s very strong balance sheet strength supported by risk-adjusted capitalization at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR), and consistently profitable operating performance over the most recent five-year period.