A.M. Best Revises Outlooks to Negative for Texas Farm Bureau Casualty Insurance Company and Farm Bureau County Mutual Insurance Company of Texas
The revised Credit Rating (rating) outlooks reflect the Group’s volatility in operating performance driven by continued underwriting losses in the personal auto book of business, which has deteriorated in recent years. The auto book’s loss ratio, which is considerably higher than the composite average, has been pressured by increased frequency and severity. Although business is diversified throughout
Partially offsetting these negative rating factors are the Group’s excellent risk-adjusted capitalization, local market knowledge and strong market presence as one of the leading personal lines insurance organizations in
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings.
Copyright © 2016 by A.M. Best Rating Services, Inc. and/or its subsidiaries. ALL RIGHTS RESERVED.
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