A.M. Best Company issues ratings
April, 2012Farm Bureau Life Insurance Company of Michigan has maintained its Excellent (A) rating from the A.M. Best Company. This Excellent rating is based on Farm Bureau Life’s excellent level of capitalization, consistently favorable operating earnings performance, and the benefits of our association with our parent organization, Michigan Farm Bureau. A.M. Best affirmed the rating with a stable outlook, further indicating the strength of Farm Bureau Life.
April, 2012Our two property-casualty companies (Farm Bureau Mutual Insurance Company of Michigan and Farm Bureau General Insurance Company of Michigan) have been rated Good ( B++) by the A.M. Best Company. The rating agency also reported that our property-casualty companies have a stable outlook and that we benefit from our strong relationship with our parent organization, Michigan Farm Bureau and its membership.
A.M. Best Company is the oldest, most experienced rating agency in the world and has been reporting on the financial condition of insurance companies since 1899. Best's Ratings represent the current and independent opinion of a company's financial strength and ability to meet obligations to policyholders. Best's Ratings are not a warranty of an insurer's current or future ability to meet obligations to policyholders, nor are they a recommendation of a specific policy form, contract, rate, or claim practice.
Demotech announces Financial Stability Rating
May, 2012Farm Bureau Mutual Insurance Company of Michigan and Farm Bureau General Insurance Company of Michigan have earned a Financial Stability Rating® (FSR) of A, Exceptional, from Demotech, Inc. This level of FSR is assigned to insurers who possess exceptional financial stability related to maintaining positive surplus as regards policyholders, liquidity of invested assets, an acceptable level of financial leverage, reasonable loss and loss adjustment expense reserves (L&LAE) and realistic pricing.
FSRs summarize Demotech’s opinion of the financial stability of an insurer regardless of general economic conditions or the phase of the underwriting cycle. FSRs utilize statutory financial data based on insurance accounting principles prescribed or permitted by the National Association of Insurance Commissioners (NAIC). Since 1989, FSRs of A or better have been accepted by the major participants in the secondary mortgage marketplace.
Demotech, Inc. is a financial analysis firm located in Columbus, Ohio. Since 1985, Demotech has been serving the insurance industry by providing actuarial consulting and accurate and proven Financial Stability Ratings® (FSRs) for Property & Casualty insurance companies and Title underwriters. The FSR rating process provides an objective baseline and insight into the future solvency of a company. As an independent financial analysis firm, Demotech has a proven track record of predicting financial stability in the insurance industry.
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