Pharmacists Mutual Gets S&P Affirmation

Standard & Poor's Ratings Services said today that it affirmed its triple-'Bpi' counterparty credit and financial strength ratings on Pharmacists Mutual Insurance Co. Key rating factors include an increase in capitalization and very strong operating performance, offset by volatility in reserve development and limited market penetration. Based in Algona, Iowa, Pharmacists Mutual markets commercial multi-peril, workers' compensation, and private passenger auto insurance, primarily to pharmacists and pharmacy owners. More than 35% of the company's business lies within its major states of oper...