A.M. Best Company, the world’s oldest insurance rating service, has affirmed an “A” (Excellent) rating for the NORCAL Group of companies, which includes Medicus Insurance Company of Austin, Texas, PMSLIC Insurance Company of Mechanicsburg, Pennsylvania, and NORCAL Mutual Insurance Company in San Francisco, California. NORCAL Mutual has held an “A” rating for nearly 30 years.
"We are pleased that A.M. Best has again recognized NORCAL Group’s financial strength and positive financial outlook. This rating signifies to our policyholders that they are backed by a strong company," Mark Johnson, senior vice president and CFO for the NORCAL Group said.
An A.M. Best rating is an independent opinion of an insurer’s financial strength and ability to meet its ongoing insurance policy and contract obligations. The rating is based on a comprehensive quantitative and qualitative evaluation of a company’s balance sheet strength, operating performance and business profile.