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AM Best Revises Outlooks to Stable for Juniata Mutual Insurance Company

AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Juniata Mutual Insurance Company (JMIC) (McAlisterville, PA).

The Credit Ratings (ratings) reflect JMIC’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.

The revision of the outlooks to stable reflects JMIC’s improved operating performance over the last two years and the continuation of those results through March 31, 2023. In recent years, the company has reported favorable operating returns driven by improved underwriting results and consistent investment income. As a result, pre-tax operating gains and positive net income have been reported for two consecutive years and through first-quarter 2023. These results are due to management’s aggressive actions to stabilize operating results, which included, but are not limited to, re-underwriting of the commercial book of business, an added inflation guard on all policies, strategic rate increases and the non-renewing of policies with multiple claims. Also, JMIC has had lower than normal storm and shock losses, as well as the successful closure of some liability claims. Policyholder surplus did decline approximately 4% at year-end 2022 due to the downturn in the stock market; however, through March 31, 2023 that loss in surplus has been replenished. While the profile of a single state geographically concentrated property writer anticipates some volatility in operating performance, the outlooks contemplate that the magnitude will compare similarly to other adequately assessed companies.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

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 London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit

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