A.M. Best has assigned a Financial Strength Rating of A-(Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of"a-" to New MexicoBusiness Insurance (NMBIC) and New Mexico Comm. Insurance Co. (NMCIC), newly formedmembers of New Mexico Mutual Group (New Mexico Mutual Group). The outlookassigned to these Credit Ratings (ratings) is stable. All companies areheadquartered in Albuquerque, NM.
NMBIC and NMCIC are wholly owned subsidiaries of (New Mexico Mutual).
The ratings of the existing members of New Mexico MutualGroup, which reflect their consolidated operating results, were extended toboth NMBIC and NMCIC given the explicit support provided through internalreinsurance in the form of a 100% quota share reinsurance agreement wherebyeach company cedes all premium, losses and expenses to its parent, New MexicoMutual. The operations of both NMBIC and NMCIC are fully integrated with themembers of New Mexico Mutual Group.