2026 Mutual Factor

What’s driving the mutual insurance sector – and what comes next?

The 2026 Mutual Factor reveals a sector operating from a position of strength, with growing surplus, favorable leverage, and improved underwriting results, even amid severe weather, inflation, and economic uncertainty.

Explore performance by region, business profile, and company characteristics; see how mutual insurers measure up under AM Best’s rating framework; and discover what independent agents say sets mutuals apart.

Read the full report for the data, benchmarks, and insights shaping the mutual sector.