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.
CopperPoint Insurance to Acquire Surety Specialist General Indemnity Group 
Florida Governor Signs Bill Dropping Building Permits for Work Valued at $7,500 or Less 
Safepoint Exec Pay, Slide’s Stock Sell-Offs Getting Attention in Florida 
NY Archdiocese Can Depose Chubb CEO Greenberg in Clergy Abuse Claims Case From This Issue
