April 8, 2019—PHILADELPHIA—The Financial Strength Rating of Pennsylvania Lumbermens Mutual Insurance Company (PLM) was affirmed as A- (Excellent) with a Stable Outlook by A.M. Best Rating Services, Inc., the insurance credit rating source. PLM is a property-casualty insurance carrier serving wood-related businesses.
“This rating reflects PLM’s strengths, including a strong balance sheet, solid levels of risk adjusted capital, our reinsurance program, a high-quality investment portfolio and our enterprise risk management program,” says John Smith, president and CEO of PLM.
“The affirmation of our rating also reflects my confidence in the more than 150 PLM employees who exhibit unparalleled dedication and commitment to the success and stability of this company,” Smith continues. “Our credit rating suggests that A.M. Best takes seriously (as do we) the plans and programs we have implemented to ensure our profitability and longevity as a company.”
The effective date of this rating is April 3, 2019. For the latest rating information, please visit A.M. Best’s website.
About Pennsylvania Lumbermens Mutual
Pennsylvania Lumbermens Mutual Insurance Company (PLM) (www.plmins.com) is a nationally recognized property and casualty insurance carrier serving the lumber, woodworking and building material industries. Backed by more than 100 years of experience, the Philadelphia, Pennsylvania-based company protects over 5,000 businesses nationwide with property, general liability, inland marine, business automobile, commercial excess liability and equipment breakdown coverages.