AM Best Upgrades Credit Ratings of Illinois Casualty and Lebanon Valley

AM Best has upgraded the Financial Strength Rating (FSR) to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) to “a” (Excellent) from “a-” (Excellent) of Illinois Casualty Company (ICC) and Lebanon Valley Insurance Company (LV).

The outlook of the Credit Ratings (ratings) has been revised to stable from positive.

ICC and LV are domiciled in Rock Island, Illinois. Concurrently, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICRs of “a” (Excellent) of Tuscarora Wayne Insurance Company (TW) and its affiliate, Keystone National Insurance Company. The outlook of these ratings is stable.

TW and Keystone National Insurance Company are domiciled in Wyalusing, Pennsylvania. The aforementioned companies are collectively referred to as Mutual Capital Insurance Group or the group.

The ratings reflect Mutual Capital Insurance Group’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM).

The rating upgrades of ICC and LV follow the recent regulatory approval of the intercompany pooling agreement between TW, LV and ICC, effective July 1, 2026. The rating upgrades are based on AM Best’s expectation that the business profiles of ICC and LV will be enhanced as pooled members of the group.