One of America's Best
We have been named among the top 100 insurance companies ranked by written net premiums by National Underwriter. In addition, we’ve made the Ward’s Top 50 Life-Health Companies 28 times out of the 33 years the Ward Group has been rewarding this prestigious honor. In early 2023, for the fourth time, Ward Group recognized Farm Bureau Insurance of Michigan with a “superior rating” for Personal Lines Claims customer experience. Farm Bureau earned the award for calendar year 2022, a recognition Farm Bureau also received in 2021, 2020, and 2018.
Farm Bureau Insurance of Michigan has also achieved a “Superior Rating” for Personal Lines Claims Customer Experience as measured by Ward’s Experience Monitor program, powered by Inpoint.
A.M. Best Company Issues Ratings
Farm Bureau Life Insurance Company of Michigan has maintained its Excellent (A) rating from the A.M. Best Company. This Excellent rating is based on Farm Bureau Life’s excellent level of capitalization, consistently favorable operating earnings performance, and the benefits from consistent profitability and a relatively low-risk product offering. A.M. Best affirmed the rating with a stable outlook, further indicating the strength of Farm Bureau Life.
Cincinnati Equitable Life Insurance Company, acquired by Farm Bureau in 2019, and Leaders Life were extended Excellent (A) ratings and stable outlooks as well.
Our two property-casualty companies (Farm Bureau Mutual Insurance Company of Michigan and Farm Bureau General Insurance Company of Michigan) have been rated Excellent (A-) by the A.M. Best Company. The rating agency also reported that our property-casualty companies have a stable outlook and that these ratings reflect our balance sheet strength, which AM Best categorizes as strongest, as well as its adequate operating performance, neutral business profile, and appropriate ERM. Another noted benefit is that of our strong relationship with our parent organization, Michigan Farm Bureau, and its membership.
A.M. Best Company is the oldest, most experienced rating agency in the world and has been reporting on the financial condition of insurance companies since 1899. Best's Ratings represent the current and independent opinion of a company's financial strength and ability to meet obligations to policyholders. Best's Ratings are not a warranty of an insurer's current or future ability to meet obligations to policyholders, nor are they a recommendation of a specific policy form, contract, rate, or claim practice.