COMPANY NAME Broome Co-operative Insurance Company
BUSINESS FUNCTION Property & Casualty Insurance
STATE OF BUSINESS New York
LOCATION Vestal, NY
YEAR FOUNDED 1887
OWNERSHIP Policyholders
AGENT COUNT Currently over 100 independent agents and brokers.
REINSURER Broome Co-operative Insurance Company’s reinsurance program is brokered through Guy Carpenter & Company, LLC.
FINANCIAL STANDING Broome Co-operative is rated A′ (A Prime) Unsurpassed by Demotech, Inc.
Broome Co-operative Insurance Company has undergone an objective solvency assessment to rate the company’s ability to meet its obligations over the next year. The actuarial firm of Demotech, Inc. bases its Financial Stability Ratings® of Broome Co-operative on a series of quantitative ratios and quantitative considerations which together comprise a Financial Stability Analysis Model.
Definition of Rating A′′ (A Double Prime) — Unsurpassed A′ (A Prime) — Unsurpassed A — Exceptional S — Substantial M — Moderate L — Licensed N/A — Ineligible