Demotech Affirms the Financial Stability Rating® Assigned to Farm Bureau Mutual Insurance Company of Michigan
Columbus, Ohio, October 14, 2021: The Financial Stability Rating® (FSR) of A, Exceptional, assigned to Farm Bureau Mutual Insurance Company of Michigan has been affirmed by Demotech, Inc. This level of FSR is assigned to insurers who possess exceptional financial stability related to maintaining positive surplus as regards policyholders, liquidity of invested assets, an acceptable level of financial leverage, reasonable loss and loss adjustment expense reserves (L&LAE) and realistic pricing.
FSRs summarize Demotech’s opinion of the financial stability of an insurer regardless of general economic conditions or the phase of the underwriting cycle. FSRs utilize statutory financial data based on insurance accounting principles prescribed or permitted by the National Association of Insurance Commissioners (NAIC). Since 1989, FSRs of A or better have been accepted by the major participants in the secondary mortgage marketplace.
About Farm Bureau Mutual Insurance Company of Michigan
Farm Bureau Insurance was founded in 1949 by Michigan Farmers who wanted an insurance company that worked as hard as they did, gave honest service, and cared about Michigan’s future. Those values still guide the company today and are a big reason why the company is known as Michigan’s Insurance Company, dedicated to protecting the farms, families, and businesses of this great state.
With nearly 430 agents across Michigan providing a full range of insurance services including Life, Home, Auto, Farm, Business, Retirement, Lake Estate®, and more, Farm Bureau Insurance is able to protect nearly 665,000 Michigan policyholders, affording the company the opportunity to live their mission: protecting the people of Michigan from the risks of everyday life.
About Demotech, Inc.
Demotech, Inc. is a financial analysis firm specializing in evaluating the financial stability of regional and specialty insurers. Since 1985, Demotech has served the insurance industry by assigning accurate, reliable, and proven Financial Stability Ratings® (FSRs) for Property & Casualty insurers and Title underwriters. FSRs are a leading indicator of financial stability, providing an objective baseline of the future solvency of an insurer. Demotech’s philosophy is to review and evaluate insurers based on their area of focus and execution of their business model rather than solely on financial size. Demotech was the first to review and rate independent regional and specialty insurers. Demotech’s consistently increasing list of accreditations and acceptances has resulted in rating and reviewing more than 400 insurers operating in the US. Visit www.demotech.com for additional information.
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