Financial strength ratings are an important factor in establishing the competitive position of insurance companies. Insurer financial strength ratings represent the opinions of rating agencies regarding the ability of an insurance company to meet its financial obligations to policyholders and contract holders.
A.M. Best1
A.M. Best Company, Inc. ("A.M. Best") ratings for insurance companies range from "A++" to "S." A.M. Best indicates that A- (Excellent) ratings are assigned to those companies that in A.M. Best's opinion have an excellent ability to meet their ongoing obligations to policyholders.
Farm Bureau Property & Casualty Insurance Company is among 55 insurers being recognized by A.M. Best Review for consistently maintaining an A.M. Best Financial Strength Rating of A or higher for the past 50 years, despite catastrophic storms and challenging economic times.
Standard & Poor's2
Standard & Poor's ratings for insurance companies range from "AAA" to "R." Standard & Poor's indicates that "A" ratings are assigned to those companies that have demonstrated strong financial security.
Insurer Financial Strength Ratings Rating Source Outlook
| Farm Bureau Life Insurance Company | A- (Excellent) | A.M. Best | Stable |
| Farm Bureau Property & Casualty Company | A (Excellent) | A.M. Best | Stable |
| Western Agricultural Insurance Company | A (Excellent) | A.M. Best | Stable |
| Farm Bureau Life Insurance Company | A- (Strong) | Standard & Poor's | Stable |
1A.M. Best has 13 active-company insurance company ratings and reflect the current and independent opinion of a company's ability to meet its obligations to policyholders, and are derived by evaluating a company's balance sheet strength, operating performance and business profile. A "B+" rating is the sixth highest of the active-company ratings. The A.M. Best rating scale is A++ (Superior), A+ (Superior), A (Excellent), A- (Excellent), B++ (Very Good), B+ (Very Good), B (Adequate), B- (Adequate), C++ (Fair), C+ (Fair), C (Marginal), C- (Marginal) and D (Poor). A.M. Best's ratings are not a warranty of an insurer's current or future ability to meet obligations to policyholders, nor are they a recommendation of a specific policy, contract, rate or claim practice.
2Standard & Poor's has eight financial strength ratings assigned to solvent insurance companies: AAA (Extremely Strong), AA
(Very Strong), A (Strong), BBB (Good), BB (Marginal), B (Weak), CCC (Very Weak), CC (Extremely Weak). Plus (+) or minus (-) modifiers show the relative standing within the categories from AA to CCC.