PORTLAND – A.M. Best, the insurance industry’s most respected rating organization, has affirmed its “Excellent” rating of the MEMIC Group and its members, including Maine Employers’ Mutual Insurance Co. and MEMIC Indemnity Co.

After a careful review of the companies, A.M. Best affirmed its “A” (excellent) rating for Maine Employers’ Mutual Insurance Co. and for the MEMIC Group while subsidiary MEMIC Indemnity Co. had an “A-” rating affirmed.

“In an era when downgrades are leading upgrades by nearly a 4-to-1 ratio, we are proud that A.M. Best has affirmed our ratings,” said MEMIC President and CEO John T. Leonard. “Having our ratings in the excellent’ category reflects the financial strength that this company has built. Despite the fact that workers compensation remains a difficult business, particularly with medical inflation causing havoc, MEMIC’s customers can rest assured that this company is more than able to meet its obligations.”

A.M. Best’s report stated that The MEMIC Group’s rating reflects excellent capitalization, solid liquidity and its dominant position within the Maine workers compensation market.

Maine Employers’ Mutual Insurance Co., based in Portland, is Maine’s largest and leading workers compensation insurer, providing coverage to 22,000 Maine employers and their estimated 170,000 employees.