Merchants Bonding Co (Mutual)

West Des Moines, IA

Rating Date

June 2026

NAIC
Classification

Property & Casualty

Risk Adjusted
Capital Ratio #1

3.00

Risk Adjusted
Capital Ratio #2

2.38

Loss
Ratio

5.52%

Total
Assets

610.08M

Capital

384.14M

Net
Premiums

253.90M

Net
Income

65.40M

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Weiss Ratings	Merchants Bonding Co (Mutual) West Des Moines, IA	Click to Compare	Click to Compare	Click to Compare
Rating	A
Capitalization Index	8.90
Investment Safety Index	--
Liquidity Index	6.90
Profitability Index	8.60
Reserve Adequacy Index	8.20
Stability Index	7.90

Company Info	Merchants Bonding Co (Mutual) West Des Moines, IA	Click to Compare	Click to Compare	Click to Compare
Industry	P&C
NAIC Number	14494
Phone Number	(515) 243-8171
Website	www.merchantsbonding.com
Address	6700 Westown Parkway West Des Moines, IA 50266

Balance Sheet	Merchants Bonding Co (Mutual) West Des Moines, IA	Click to Compare	Click to Compare	Click to Compare
Total Assets	610.08M

Capital and Reserves	Merchants Bonding Co (Mutual) West Des Moines, IA	Click to Compare	Click to Compare	Click to Compare
Risk-Adjusted Capital Ratio #1	3.00
Risk-Adjusted Capital Ratio #2	2.38
1-Year Reserve Development	-5.04%
2-Year Reserve Development	-5.15%
Capital	384.14M
Premium to Surplus	66.10%
Reserves to Surplus	10.43%

Investments	Merchants Bonding Co (Mutual) West Des Moines, IA	Click to Compare	Click to Compare	Click to Compare
Cash	--
CMO & Structured Securities	--
Common & Preferred Stock	--
Invested Assets	--
Investments in Affiliates	5.06%
Mortgages in Good Standing	--
Non-Investment Grade Bonds	--
Non-Performing Mortgages	--
Other Investment Grade Bonds	--
Other Investments	--
Real Estate	--

Operating Ratios	Merchants Bonding Co (Mutual) West Des Moines, IA	Click to Compare	Click to Compare	Click to Compare
Medical Loss Ratio	--
Cash From Underwriting	143.57%
Combined Ratio	70.05%
Expense Ratio	64.54%
Loss Ratio	5.52%
Net Premium Growth	12.37%

Other Medical	Merchants Bonding Co (Mutual) West Des Moines, IA	Click to Compare	Click to Compare	Click to Compare
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 Bonding Co (Mutual) West Des Moines, IA	Click to Compare	Click to Compare	Click to Compare
Net Income	65.40M
Net Premium	253.90M
Health Premium	--