A.M. Best Downgrades Ratings of American Farmers & Ranchers Mutual Insurance Company; Places Ratings Under Review
A.M. Best Co. has downgraded the financial strength rating (FSR) to B+ (Good) from B++ (Good) and issuer credit rating (ICR) to 'bbb-" from 'bbb" of American Farmers & Ranchers Mutual Insurance Company (Oklahoma City, OK). In addition, A.M. Best has assigned an FSR of B+ (Good) and ICRs of 'bbb-" to American Farmers & Ranchers Group (Oklahoma City, OK) and American Farmers & Ranchers Insurance Company (formerly General Fire and Casualty Insurance Company) (Boise, ID) the recently acquired and fully reinsured subsidiary of American Farmers & Ranchers Mutual Insurance Company. All ratings have been placed under review with negative implications due to the uncertainty regarding the group's future capital position and the challenges management will face integrating new business into the current operating structure.
Published on May 21, 2008
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