Madison, Wis. — Mar. 18, 2026 — Rural Mutual and Badger Mutual Insurance announced today that AM Best has reaffirmed their A+ group rating. The two companies successfully completed an affiliation agreement in January 2025. This marks the second year for the group’s A+ rating and the ninth year for Rural Mutual’s A+ rating.
AM Best, a global credit rating agency specializing in the insurance industry, reaffirmed the group’s Financial Strength Rating (FSR) of A+ and the Long-Term Issuer Credit Rating (ICR) of “aa-.”
“We’re pleased to see AM Best reaffirm our A+ rating following the first year of our affiliation,” said Dan Merk, Rural Mutual Executive Vice President and CEO. “This recognition reinforces that our strategic goals are being achieved and confirms that together we have strengthened our organizations for the long term.”
According to AM Best, the group’s balance sheet strength assessment remains at the strongest level. The rating further recognizes the companies’ combined strong operating performance, neutral business profile, and sound enterprise risk management.
“Earning an A+ rating again demonstrates that our affiliation is delivering on its promise to all stakeholders,” said Dan Nigro, CEO of Badger Mutual. “It reinforces our commitment to our policyholders and the strength that continues to drive Badger Mutual forward.”
About Rural Mutual Insurance Company
Rural Mutual Insurance Company has been protecting Wisconsin for over 90 years and is the state’s No. 1 writer of farm insurance and No. 4 writer of commercial insurance. As an AM Best A+ Superior company, Rural Mutual provides a full line of insurance products exclusively to farms, families, and businesses in Wisconsin. The company is headquartered in Madison, Wisconsin with over 150 local agents across the state.
About Badger Mutual Insurance Company
Badger Mutual Insurance Company has been providing a range of property and casualty insurance products since 1887. The company is headquartered in Milwaukee, Wisconsin, and is represented by over 320 local agencies across seven states: Wisconsin, Illinois, Minnesota, Iowa, Michigan, Arizona, and Nevada.
About AM Best
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.
