Rating affirms Oklahoma-based company’s financial strength
OKLAHOMA CITY – (Dec. 11, 2020) – CompSource Mutual Insurance Company, Oklahoma’s largest workers’ compensation carrier, was rated A (Excellent) by AM Best, the preeminent insurance rating bureau.
A.M. Best also assigned the “a” issuer credit rating of CompSource Mutual. A.M Best’s issuer credit rating reflects their opinion of an insurer’s ability to meet its ongoing financial obligations. The outlook of these Credit Ratings (ratings) is stable.
Throughout its history, CompSource Mutual has upheld its commitment to the businesses and workers it protects by maintaining high standards of financial performance. In doing so, CompSource Mutual maintains excellent liquidity and a high-quality, diversified investment portfolio, and sought the AM Best rating as further demonstration of its strength.
AM Best specifically recognized CompSource Mutual’s balance sheet strength as falling into the “strongest” category, noting, “The balance sheet strength assessment also considers the company’s underwriting leverage ratios, which compare favorably with the workers’ compensation (WC) composite, low reinsurance dependence with a high quality reinsurance panel, and a diverse investment portfolio with investment leverage metrics that are below the WC composite.” Citing these factors, CompSource Mutual was issued the AM Best A (Excellent) rating.
“This rating reflects the long-term commitment to our policyholders and focus on financial stability which has been hallmark to our organization,” said Jason Clark, President & CEO, CompSource Mutual Insurance Company. “It is extremely gratifying to have our financial strength and company performance validated by an organization as deeply respected as AM Best.”
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For the latest Best’s Credit Rating, visit www.ambest.com.
About CompSource Mutual Insurance Company
For more than 87 years, Oklahoma businesses have partnered with CompSource Mutual as a reliable source for workers’ compensation insurance and is trusted for its financial stability, superior service, and innovative solutions. CompSource Mutual seeks to be the insurance carrier of choice within the business community by serving Oklahoma’s most valuable asset, its workers.