C
Merchants National Ins Co
Buffalo,  NY
Rating Date
June 2026
NAIC
Classification
Property & Casualty
Risk Adjusted
Capital Ratio #1
1.39
Risk Adjusted
Capital Ratio #2
1.09
Loss
Ratio
78.22%
Total
Assets
264.92M
Capital
80.94M
Net
Premiums
66.58M
Net
Income
2.48M
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Weiss Ratings Merchants National Ins Co
Buffalo, NY 		Click to
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Rating C
Capitalization Index 7.10
Investment Safety Index --
Liquidity Index 6.60
Profitability Index 3.70
Reserve Adequacy Index 3.10
Stability Index 6.70
Company Info Merchants National Ins Co
Buffalo, NY 		Click to
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Industry P&C
NAIC Number 12775
Phone Number (716) 849-3333
Website www.merchantsgroup.com
Address 250 Main Street Buffalo, NY 14202
Balance Sheet Merchants National Ins Co
Buffalo, NY 		Click to
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Total Assets 264.92M
Capital and Reserves Merchants National Ins Co
Buffalo, NY 		Click to
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Risk-Adjusted Capital Ratio #1 1.39
Risk-Adjusted Capital Ratio #2 1.09
1-Year Reserve Development 6.95%
2-Year Reserve Development 25.93%
Capital 80.94M
Premium to Surplus 82.25%
Reserves to Surplus 165.08%
Investments Merchants National Ins Co
Buffalo, NY 		Click to
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Cash --
CMO & Structured Securities --
Common & Preferred Stock --
Invested Assets --
Investments in Affiliates 18.68%
Mortgages in Good Standing --
Non-Investment Grade Bonds --
Non-Performing Mortgages --
Other Investment Grade Bonds --
Other Investments --
Real Estate --
Operating Ratios Merchants National Ins Co
Buffalo, NY 		Click to
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Medical Loss Ratio --
Cash From Underwriting 96.56%
Combined Ratio 108.01%
Expense Ratio 29.79%
Loss Ratio 78.22%
Net Premium Growth -4.60%
Other Medical Merchants National Ins Co
Buffalo, NY 		Click to
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Bonus Pay --
Capitation Pay --
Contractual Pay --
Enrollment --
Fee For Service --
Medical Expense Per Member Per Month --
Network Physicians --
Other Pay --
Salary Pay --
Total Patient Encounters - Physician --
Total Patient Encounters-Non-Physician --
Profitability Merchants National Ins Co
Buffalo, NY 		Click to
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Net Income 2.48M
Net Premium 66.58M
Health Premium --