AM Best Assigns Issue Credit Rating to Pharmacists Mutual Insurance Company’s Newly Issued Surplus Notes

Credit: Business Wire- Published on August 16, 2019
OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “bbb+” to the newly issued $25 million, 7.375% surplus notes, due 2039, of Pharmacists Mutual Insurance Company (Pharmacists) (Algona, IA). The outlook assigned to the Credit Rating (rating) is stable. The existing ratings of Pharmacists and its wholly owned subsidiary, Chiron Insurance Company, remain unchanged. The assigned Long-Term IR on the surplus notes is notched down two levels off the
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