A.M. Best, the oldest and most respected rating agency in the world, rated Farm Bureau Mutual Insurance Company of Michigan, Farm Bureau General Insurance Company of Michigan, and Great Lakes Agribusiness Insurance Company at an A- (Excellent) rating with a stable outlook.
“The latest A.M. Best ratings are a significant achievement and are the result of the commitment of everyone at Farm Bureau Insurance,” said CEO Don Simon. “We’ll continue working on behalf of our insureds and communities across Michigan.”
A.M. Best also reported that Farm Bureau Life Insurance Company of Michigan, and Cincinnati Equitable Life Insurance Company were reaffirmed at an A (Excellent) rating with a stable outlook.
A.M. Best ratings represent their current and independent evaluation of our companies’ financial strength. A.M. Best is the oldest and most widely recognized provider of financial data, ratings, and news exclusive to the insurance industry. The agency’s annual credit ratings are recognized as a benchmark for assessing an organization's financial strength as well as the credit quality of its obligations. These ratings are issued on approximately 3,500 companies spanning 90 countries.
The annual reports involve an in-depth review process that takes several months. As part of the process, Farm Bureau Insurance submitted detailed information related to its financial outlook, corporate governance, structure, risk management, and more.
