Farm Bureau Insurance Companies Receive "Excellent" Rating from A.M. Best
Date Posted: July 13, 2022
Farm Bureau Insurance of Michigan has been recognized by A.M. Best with “Excellent” ratings across the board following the agency’s annual review. A trusted authority on the financial stability of the insurance industry, A.M. Best’s annual credit ratings are considered a reliable barometer of the financial stability of the insurance industry. Farm Bureau Mutual Insurance Company of Michigan and Farm Bureau General Insurance Company of Michigan were reaffirmed at an A- (Excellent) rating with a stable outlook, while Farm Bureau Life Insurance Company of Michigan, Leaders Life Insurance Company, and Cincinnati Equitable Life Insurance Company were reaffirmed at an A (Excellent) rating with a stable outlook.
Submitting detailed information related to many facets of its business and operations annually, Farm Bureau Insurance of Michigan has established itself as a consistent performer in its industry. This announcement follows a trend of “excellent” ratings with a stable outlook across all reports this decade.
“We are very pleased to achieve ‘Excellent’ rankings by the oldest, most experienced rating agency in the world,” said Farm Bureau Insurance of Michigan CEO, Don Simon, recognizing the A.M. Best Company’s venerable history, studying the insurance business since 1899. “These achievements are a reflection of our organization-wide commitment to those we serve. I recognize and admire the efforts of our extraordinary team, constantly striving for excellence in all facets of operation.”
A.M. Best’s annual reports involve an in-depth review process that takes place across several months, reviewing over 16,000 companies in more than 90 countries. Focusing on details related to financial outlook, corporate governance, structure, risk management, and more, the agency’s annual credit ratings are recognized as a benchmark for assessing a rated organization's financial strength as well as the credit quality of its obligations.