Hastings Mutual given A+ Superior strength rating

Hastings Mutual Insurance Company was again awarded an A+ Superior (stable outlook) financial strength rating from A.M. Best Company in 2011. This top honor is based on an independent evaluation by A.M. Best of the qualitative and quantitative strength of Hastings Mutual’s balance sheet. The financial responsibility and strength of this well-established, regional Property and Casualty carrier is highlighted in the affirmed rating.

“Hastings Mutual has achieved this recognition because of hard work, conservative financial practices and the desire to meet the needs of our customers,” says Bill Wallace, president and CEO of Hastings Mutual.
“We attribute this success to the dedication of our independent agents and company employees.”

A.M. Best’s comprehensive review also considers other factors regarding the financial health of an organization and examines criterion such as overall performance, business profile, operating fundamentals, and business relationships. Through exceptional agency partnerships, Hastings Mutual has been able to achieve financial growth in commercial and farm lines while maintaining their existing market share in personal lines business.

“Independent agency partnerships are the key to Hastings Mutual’s business model,” says Wallace.
“Working with our agent network, we have been able to offer unparalleled service to our mutual customers. This A+ rating allows our agency partners to sell our financial security products with the utmost confidence that Hastings Mutual will be there to fulfill those promises.”

A.M. Best is among the most respected rating organizations. Now a global full-service agency, they have served the insurance industry for more than 100 years. Best’s Financial Strength Rating is assigned exclusively to insurance companies based on financial strength and the ability to meet insurance policy contractual obligations.