C
Merchants Mutual Ins Co
Buffalo,  NY
Rating Date
June 2026
NAIC
Classification
Property & Casualty
Risk Adjusted
Capital Ratio #1
2.00
Risk Adjusted
Capital Ratio #2
1.42
Loss
Ratio
78.22%
Total
Assets
948.48M
Capital
312.95M
Net
Premiums
233.02M
Net
Income
8.01M
My Lists My Alerts
Weiss Ratings Merchants Mutual Ins Co
Buffalo, NY 		Click to
Compare		 Click to
Compare		 Click to
Compare
Rating C
Capitalization Index 7.60
Investment Safety Index --
Liquidity Index 6.80
Profitability Index 3.80
Reserve Adequacy Index 3.20
Stability Index 6.80
Company Info Merchants Mutual Ins Co
Buffalo, NY 		Click to
Compare		 Click to
Compare		 Click to
Compare
Industry P&C
NAIC Number 23329
Phone Number (716) 849-3333
Website www.merchantsgroup.com
Address 250 Main Street Buffalo, NY 14202
Balance Sheet Merchants Mutual Ins Co
Buffalo, NY 		Click to
Compare		 Click to
Compare		 Click to
Compare
Total Assets 948.48M
Capital and Reserves Merchants Mutual Ins Co
Buffalo, NY 		Click to
Compare		 Click to
Compare		 Click to
Compare
Risk-Adjusted Capital Ratio #1 2.00
Risk-Adjusted Capital Ratio #2 1.42
1-Year Reserve Development 6.72%
2-Year Reserve Development 25.49%
Capital 312.95M
Premium to Surplus 74.46%
Reserves to Surplus 150.66%
Investments Merchants Mutual Ins Co
Buffalo, NY 		Click to
Compare		 Click to
Compare		 Click to
Compare
Cash --
CMO & Structured Securities --
Common & Preferred Stock --
Invested Assets --
Investments in Affiliates 10.19%
Mortgages in Good Standing --
Non-Investment Grade Bonds --
Non-Performing Mortgages --
Other Investment Grade Bonds --
Other Investments --
Real Estate --
Operating Ratios Merchants Mutual Ins Co
Buffalo, NY 		Click to
Compare		 Click to
Compare		 Click to
Compare
Medical Loss Ratio --
Cash From Underwriting 99.81%
Combined Ratio 108.00%
Expense Ratio 29.78%
Loss Ratio 78.22%
Net Premium Growth -4.60%
Other Medical Merchants Mutual Ins Co
Buffalo, NY 		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 Mutual Ins Co
Buffalo, NY 		Click to
Compare		 Click to
Compare		 Click to
Compare
Net Income 8.01M
Net Premium 233.02M
Health Premium --