Farm Bureau Insurance Recognized by AM Best and Wards Top 50

September 16, 2019

farm bureau insurance am best

Farm Bureau Insurance of Tennessee’s property and casualty as well as its life insurance operations have received a financial strength rating of A+ Superior from AM Best. The companies have also received the Wards Top 50 recognition.

Ratings presented by AM Best are a recognized indicator of insurer financial strength and creditworthiness. It is the oldest and most widely recognized provider of ratings, financial data, and news with an exclusive insurance industry focus.

Ward’s 50® companies are analyzed annually based on an analysis of financial performance of more than 3,000 property and casualty companies and more than 700 life-health insurance companies domiciled in the United States. The top 50 performers have passed all safety and consistency screens and achieve superior performance over the five years analyzed.

Farm Bureau Insurance covers homes, autos and other property through its property and casualty company, Tennessee Farmers Mutual Insurance Company.  Life insurance coverage is provided by Tennessee Farmers Life Insurance Company. Farm Bureau Insurance covers more homes and automobiles than any other insurer in the state, and is the second largest writer of individual life policies.

“As the premier rating organization for the 3,000+ property and casualty companies in the U.S., AM Best and their rating of our company is important to us,” said P&C Chief Operating Officer John Law. “The recent confirmation of our A+ Superior rating is a testament to our commitment to be a top insurer. AM Best highlighted our strong capitalization and underwriting income, sound reinsurance program, and our solid distribution network of 500+ agents. These are areas that we focus on every day, and we are pleased that what is important to us aligns well with what is important to AM Best.

In addition to the AM Best rand Wards ratings, Farm Bureau Insurance has also been recognized for the eighth consecutive year as highest in customer satisfaction among auto insurers in the southeast region by consumer rating agency J.D. Power.

“The life company is very pleased to receive the A+ Superior rating from AM Best,” said David Bell, chief operating officer for life operations. “It represents an objective, third-party ‘vote of confidence’ in the financial strength and management of our company. The rating gives consumers the same objective view that the company is able to meet our financial obligations and pay claims.”

“The Ward’s 50 is another vote of confidence and speaks to the strength of our operations, financial position and security,” said Bell. “While the ratings from Wards and AM Best are important accolades to receive, we don’t manage the company just to receive them. They are a by-product of us doing the right things well.”

For more information, visit www.ambest.com and ward.aon.com/ward-benchmarking/wards50.

 

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