“The rating upgrade and improved outlook by A.M. Best are very good news for our companies. We view these actions as a step in the right direction toward recognizing our considerable financial strength, discipline and strategic focus,” said James E. Hohmann, FBL’s Chief Executive Officer. “Our improved financial strength and performance, increased risk based capital levels, high quality investment portfolio and the successful reinvention and ongoing diversification of EquiTrust Life are compelling,” he added.
Hohmann added, “While we are pleased with these positive rating actions, it is our goal to have both companies rated A (Excellent) and we will continue working to achieve those ratings.”
According to A. M. Best, the rating for Farm Bureau Life reflects solid risk-adjusted and absolute capitalization, consistently positive operating earnings, an aggregate unrealized gain position in its investment portfolio and strong affinity within the Farm Bureau market, and the rating for EquiTrust Life reflects its favorable risk-adjusted and absolute capitalization and an aggregate unrealized gain position in its investment portfolio.