WEST DES MOINES, Iowa (June 21, 2012) – A.M. Best Company has affirmed its A (Excellent) financial strength rating1 and stable outlook for Farm Bureau Property & Casualty Insurance Company and Western Agricultural Insurance Company.”
“Our focus on maintaining excellent capitalization and the right risk management strategies resulted in a strong performance in 2011,” said James P. Brannen, Chief Financial Officer. “We make a pledge to help our clients protect what matters most and achieve their goals, and that pledge drives our commitment to ensure our companies’ financial strength and deliver solid results. We’re pleased to see our rating affirmed.”
Farm Bureau Property & Casualty Insurance Company is among 55 insurers recognized by A.M. Best Review for maintaining an A.M. Best financial strength rating of A (Excellent) for the past 50 years.
A.M. Best noted that the positive rating factors are derived from the group’s regional market presence and are reflective of its exclusive agency distribution system, customer loyalty and local market knowledge. The rating also recognizes the support from state Farm Bureau Federations, which facilitate the group’s marketing and business retention.
“While the economy remains in recovery and the weather patterns provide significant challenges,” says Brannen, “Farm Bureau Property & Casualty Group continues to perform as an industry leader.”
1An A (Excellent) financial strength rating is the third highest of A.M. Best’s individual ratings