A.M. Best Affirms A (Excellent) Rating for Farm Bureau Property & Casualty Group

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.

“We are pleased with this rating affirmation,” said James E. Hohmann, Chief Executive Officer. “It recognizes the companies’ excellent capitalization as well as their strong performance in 2010, despite some significant storm losses.”

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.

“Growth in the property-casualty industry, overall, has been stagnant since 2006,” Hohmann added. “And while the economic recession has presented its challenges for all in our sector, Farm Bureau Property & Casualty Group continues to perform as an industry leader.”

About Farm Bureau Financial Services

Through an exclusive, multi-state agent force, the companies affiliated with the Farm Bureau Financial Services brand underwrite, market and distribute a broad range of insurance and financial services products to individuals and businesses. Learn more about us at FBFS.com or by visiting Facebook, Twitter or YouTube.

1An A (Excellent) financial strength rating is the third highest of A.M. Best’s individual ratings.