News

A.M. Best has revised the issuer credit rating (ICR) outlook to positive from stable and affirmed the financial strength rating (FSR) of A (Excellent) and the ICR of “a” for Nodak Mutual Group (Nodak) members, Nodak Mutual Insurance Company (Nodak Mutual) (Fargo, ND).

Concurrently, A.M. Best has revised the outlook to from stable and affirmed the FSR of B++ (Good) and the ICR of “bbb+ of American West Insurance Company (American West) (Fargo, ND), a wholly owned and separately rated subsidiary. Nodak’s positive outlook on the ICR is reflective of the group’s solid capitalization, positive operating results and market profile as one the leading writers of property/casualty insurance in North Dakota. Surplus growth in four of the past five years is attributable to overall positive underwriting income complemented by a steady stream of net investment income. The group’s long-term favorable operating results arise from management’s conservative operating strategies and local market expertise.