A.M. Best Revises Outlooks to Stable for Farmers Mutual Fire Insurance Company of McCandless Township
The ratings reflect Farmers’ balance sheet strength, which
Farmers’ balance sheet strength reflects the very strong level of risk-adjusted capitalization, moderate leverage and favorable liquidity metrics. Partially offsetting these positive rating factors is elevated common stock leverage compared with the composite and fluctuations in reserve development. Farmers’ operating performance in prior years had been consistent, but recently has become volatile, driven by weather-related losses and some severe individual property losses. Farmers maintains a limited business profile as a single state property writer in
Negative rating action could occur if there is a decline in risk-adjusted capitalization that creates pressure on Farmers’ overall balance sheet strength. Positive rating movement could occur if Farmers demonstrates sustained underwriting and operating results that outperform the composite.
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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