KBRA Releases Rating Report for Brotherhood Mutual Insurance Company
August 4, 2021: Brotherhood Mutual Insurance Company announces the release of financial rating by Kroll Bond Rating Agency (KBRA). Brotherhood Mutual received an A- insurance financial strength rating (IFSR) and a rating of BBB to the company’s currently outstanding surplus notes. The Outlook for all ratings is Stable.
“We’ve seen significant growth in the number of Christian K-12 schools and Christian colleges and universities that we insure. Working with a premier bond rating company signifies our dedication to providing strong results for the ministries we serve,” said Mark Robison, chairman and president of Brotherhood Mutual.
KBRA rates many insurance companies, including Lloyd’s of London, Manhattan Life, and Penn Mutual.
KBRA reports that Brotherhood Mutual’s rating reflects sound capitalization, focused market strategy, and consistent surplus growth over the long term. The report states that Brotherhood Mutual’s management team is highly experienced in their market segment, with a strong track record of growth and risk management.
The company received a positive rating for its high degree of geographic diversification, with limited exposure concentrations. KBRA believes Brotherhood Mutual has fundamentally sound underwriting and financial analytics with advanced technology for risk selection.
As a leader in the industry, Brotherhood Mutual serves more than 65,000 Christian churches, schools, colleges, camps, and mission organizations. Since 2009, the company has nearly doubled both its customer base and its employee base. There is also strong growth in demand for its MinistryWorks service, which is America’s largest payroll and payroll tax filing service that specializes in Christian ministries.
About Brotherhood Mutual®
Celebrating more than 100 years in business, Brotherhood Mutual Insurance Company is one of the nation’s leading property and casualty insurers of Christian ministries. The company serves more than 65,000 Christian churches, schools, colleges, camps, and related ministries in 47 states and the District of Columbia. Headquartered in Fort Wayne, Indiana, Brotherhood Mutual is staffed by 500+ employees and works with 476 independent agents in 111 agencies nationwide. www.brotherhoodmutual.com
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