A.M. Best Affirms Financial Strength of the MEMIC Group With "A" (Excellent) Rating

MEMIC is rated "A" (Excellent) by A.M. Best PORTLAND, Maine, May 5, 2017 – A.M. Best has affirmed its “A” (Excellent) rating for super-regional workers’ compensation insurer The MEMIC Group, which includes Maine Employers’ Mutual Insurance Company, MEMIC Indemnity Company and MEMIC Casualty Company.
As the insurance industry’s most respected rating organization, A.M. Best acknowledged in its annual review The MEMIC Group’s experienced management team, conservative operating philosophy and excellent reputation among policyholders for its high level of service. According to A.M. Best, the ratings reflect The MEMIC Group’s “demonstrated underwriting principles, conservative investment policy, aggressive claims management practices and firm commitment to loss control and in-depth safety education and training services.”
In 2016, The MEMIC Group wrote more than $340 million in premium, a growth of 11% from 2015 and part of a 70% increase over the past 5 years. That record year was immediately followed by a record first quarter in 2017. “We’ve built a foundation for tremendous success,” says MEMIC President and CEO John T. Leonard. “Every day, more agents and employers are choosing MEMIC for the unparalleled level of service we provide.”


A super-regional workers’ compensation specialty insurer rated “A” (Excellent) by A.M. Best, The MEMIC Group insures more than 20,000 employers and their estimated 300,000 employees. Licensed across the country with more than $1.2 billion in assets, The MEMIC Group is a leading carrier in the Northeast with a growing profile across the Eastern Seaboard. Offices are located in New Hampshire, Connecticut, New York, New Jersey, Pennsylvania, Virginia and Florida, in addition to the headquarters in Portland, Maine.