A.M. Best Takes Various Rating Actions on Germania Farm Mutual Insurance Association and Its Subsidiaries
Additionally,
The ratings of Germania reflect the group’s balance sheet strength, which
The ratings of Texas Heritage reflect the company’s balance sheet strength, which
At year-end 2017, Texas Heritage completed transferring all of its business to
The rating affirmations of Germania recognize its very strong risk-adjusted capitalization, long-time experience and expertise in the
The revised outlooks for Germania reflect the improvement in the group’s operating results, which have shown reduced volatility despite frequent and severe weather-related events, particularly in 2016 and 2017. This improvement is in direct correlation with management’s aggressive corrective actions to improve operations through significant tightening of underwriting guidelines, de-emphasizing of unprofitable business, and rate increases across the state. Going forward,
The ratings of Germania Life reflect its role within the organization as the ordinary life insurance provider, and also reflect the company’s continued strong level of risk-adjusted capitalization. Offsetting factors include Germania Life’s modest operating profile along with its narrow business profile and recent history of weak, albeit improving operating performance.
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
Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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