A.M. Best Revises Outlooks to Positive for Louisiana Farm Bureau Mutual Insurance Company
The ratings reflect Louisiana Farm Bureau’s balance sheet strength, which
The revised outlooks are based on the consistent trend in operating performance driven by Louisiana Farm Bureau’s undertaking in recent years to significantly re-underwrite its book of business, which included reducing business written in tier-1 coastal areas, sizeable rate adjustments, higher deductibles and vastly improved risk management techniques. These initiatives have resulted in significant improvement in returns, even during hurricanes Isaac (2012), and Harvey and Nate in 2017, which the company weathered through profitably while growing policyholder surplus. Consistent underwriting results, coupled with solid investments gains, have resulted in 10 consecutive years of pre-tax operating gains and surplus appreciation.
The limited business profile reflects the company’s geographic concentration of risk in a coastal state. As a single state writer 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. For information on the proper media use of Best’s Credit Ratings and
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