For Vermont Mutual Insurance Group, which has been around since 1828, the past few years have been among the most challenging in its history.
“The disruption was not from a single event, but a confluence of disrupters that had successive negative impacts on our business…a perfect storm if you will,” Daniel C. Bridge, chairman, president, chief executive officer, explained in his 2023 annual statement.
Supply chain delays, high inflation, climate change, expensive reinsurance — Vermont Mutual has felt the effects of them all. It has even had to deal with the flooding of its own headquarters in Montpelier.
AM Best took note of the challenges the insurer has been facing. It revised its outlooks to negative from stable for Vermont Mutual Insurance Group, whic