A.M. Best has upgraded the Financial Strength Rating of Farmers Mutual Fire Insurance Company of Marble, Penn., to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” from “a-“. The outlooks of these credit ratings have also been revised to stable from positive, according to a press release issued by A.M. Best.
The ratings reflect Farmers Mutual’s balance sheet strength, as well as its strong operating performance, limited business profile and appropriate enterprise risk management. The press release stated the rating actions also reflect Farmers Mutual’s increased balance sheet strength, driven by its risk-adjusted capitalization and growth in policyholders’ surplus over the past five years. This is primarily a result of strong operating earnings, stable loss reserving trends, a comprehensive reinsurance program with strong partners and a high-quality investment portfolio.
Topics Agribusiness AM Best Pennsylvania
Was this article valuable?
Here are more articles you may enjoy.
Farmers Looks to Make it Easier for Consumers to Understand Insurance 
Q2 Net Income at Travelers Soars 46% on Less Catastrophes, Favorable Reserves 
FDA Walks Back Positive Lab Test in Lettuce Cyclospora Outbreak 
One Weather Firm Warns New England Could See Big Hurricane This Season From This Issue
