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Farm Bureau Insurance of Michigan Named Top 50 U.S. Insurer in Multiple Categories

Friday, August 18, 2017  
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Farm Bureau Insurance of Michigan has been honored by the 2017 Ward’s 50® group as a top performing U.S. insurance company. This list is compiled by the Ward Group after analyzing the financial performance and written net premiums (by National Underwriter) of the more than 700 life-health - and nearly 3,000 property-casualty - insurance companies serving the United States.

"This is the 22nd time in 27 years that our Life Company has been part of this prestigious list," said Jim Robinson, CEO, Farm Bureau Insurance of Michigan. "I’m also happy to announce that our Property and Casualty companies (Farm Bureau Mutual and Farm Bureau General) were named to the list of Top 50 Property and Casualty companies in the country (Farm Bureau Insurance of Michigan Group)." Robinson added, "Having one company make the Top 50 is a great accomplishment–but to make both Top 50 lists is truly an outstanding achievement."

The Ward Group has analyzed the financial performance of insurance companies each year, since 1991, identifying the top performers in each segment based on objective data and subjective quality measures. To be considered for a spot on the list, companies must pass safety and consistency screens and achieve superior performance over the five years analyzed.

“Low investment returns, rising loss costs, and competitive market conditions continue to impact financial returns for the industry,” said Jeff Rieder, partner and head of Ward Group. “In selecting the Ward’s 50, we identified companies that pass financial stability requirements and measure their ability to grow while maintaining strong capital positions and underwriting results.”

Having experienced consistent growth growth Farm Bureau Insurance of Michigan has established itself as one of the country’s largest single-state providers, placing on Ward’s lists next to a number of larger, nation-wide providers. Farm Bureau Insurance’s Life Company surpassed 100,000 policies in force and is consistently recognized for its strong performance.

"In light of such rigorous analysis, it is gratifying to be honored for the hard work that everyone associated with Farm Bureau Insurance does every day," said Robinson. "Being part of two Top 50 lists represents recognition throughout the industry that Farm Bureau Insurance of Michigan is among the best and top-performing insurers in the nation and has been for several years."

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