Two affiliated insurance companies of Farm Bureau Financial Services have been named to Ward’s 50 Top Performers lists for 2015. Farm Bureau Property & Casualty Insurance Company, and Farm Bureau Life Insurance Company have been named to the Property-Casualty Ward’s 50® and Life-Health Ward’s 50® lists, respectively, based on their outstanding financial results over the five-year period 2010-2015.
Nearly 3,000 property-casualty insurance companies and 800 life-health insurance companies are analyzed to identify the top performers based on criteria such as surplus, net income/adjusted net income, risk-based capital, compound annual growth in premium, and more. Each company must pass all safety and consistency screens in addition to achieving superior performance over the five years analyzed. The Property-Casualty Ward’s 50 group produced a 10.9% statutory return on average equity from 2010 to 2014 (compared to 7.8% for the property-casualty industry overall), while the Life-Health Ward’s 50 group produced a 21.8% statutory return on average equity for the same time period (compared to 8.9% for the life-health industry overall).
“We continue to focus on doing the right things – protecting the livelihoods and futures of the people in the communities we serve and optimizing our operational efficiency – and the results come naturally,” says Farm Bureau Financial Services Chief Executive Officer, James P. Brannen. “Our companies have a history of outstanding service and solid financial results; our agents are passionate about what they do. Collectively, we make a meaningful difference for our client/members when they need us most,” Brannen adds. “We’re honored that our companies’ superior performance has been recognized by Wards 50.”
Ward Group has conducted the Ward’s 50 analysis since 1991. It is a financial analysis of the insurance industry based on publicly available data and conducted independently of the Ward Group annual benchmarking programs.