AM Verifies Credit Ratings of Best Farmers Insurance Group members

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OLDWICK, NJ – (BUSINESS WIRE) – June 16, 2022 –

am the best Has affirmed the Financial Strength Rating (FSR) of members of the Farmers Insurance Group (Farmer) from “A” (Excellent) to A (Excellent) and the Long Term Issuer Credit Rating (Long Term ICR) of “A” (Excellent). In addition, AM Best has affirmed a BBB+ (Good) Long-Term IR credit rating on its outstanding excess debt from Farmers Insurance Exchange (Woodland Hills, CA) and Farmers Exchange Capital (Wilmington). , Day). The outlook for these credit ratings is Stable. (See the link below for a detailed list of companies and reviews.)

The Farmers’ rating reflects the strength of the group’s balance sheet, which AM Best rates as very strong, as well as its notable operating performance, favorable business profile and adequate corporate risk management. Farmers continue to deliver respectable operating results with some volatility associated with the risk of catastrophic losses. Management has taken a number of actions to improve its underwriting performance through targeted pricing actions and risk mitigation strategies, revised product offerings and strengthened underwriting controls. In addition, AM Best believes that the acquisition of MetLife’s asset/casualty business will make a significant contribution to underwriting profitability going forward. Partially offset by these forces are farmers’ high risk of catastrophic losses and reliance on over $2 billion in surplus banknotes.

A complete list of farmers’ FSRs, long-term ICRs and long-term IRs is available.

This press release refers to the credit rating published on AM Best’s website. All ratings information relating to the press release and relevant disclosures, including details of the bureaus responsible for preparing each individual rating referenced in this press release, can be found at AM Best.Last review activitysite. For more information on the uses and limitations of a credit rating, seeBest Credit Score GuideFor information on the fair use of BEST’s credit rating, BEST’s performance rating, BEST’s initial credit rating, and BEST’s AM press release, go to.Guide to using the best ratings and reviews fairly,

AM Best is a global rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company operates in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. Visit for more informationwww.ambest.com,

Copyright © 2022 AM Best Rating Services, Inc. and/or its affiliates. All rights reserved.

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Contact: Edin Imsirovic

Deputy Director

+1 908.439.2200, extension 5740

[email protected]

Robert Rabe

the director

+1 908.439.2200, extension 5696

[email protected]

Christopher Sharkey

manager, public relations

+1 908.439.2200, extension 5159

[email protected]

Jeff Mango

Managing Director,

strategy and communication

+1 908.439.2200, extension 5204

[email protected]

Keywords: New York, New Jersey, Europe, United States, North America

Industry Keywords: Professional Services Insurance Finance

Source: AM Best

Copyright Business Wire 2022.

Pub: 2022-06-16 2:17 PM / DISC: 2022-06-16 2:17 PM

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