OKLAHOMA – Oklahoma Farm Bureau Insurance’s Financial Strength Rating was recently upgraded from a B+ to a B++ by A.M. Best Rating Services, Inc.*, a national credit rating service that specializes in insurance. According to the report by AM Best, the rating reflects the company’s balance sheet strength, which AM Best categorizes as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
The Oklahoma-based insurance company has enhanced its credit rating status three times in the last four years. According to the credit report, the ratings also reflect the sustained improvement in the group’s operating performance, evidenced by its five-year average combined ratio, operating ratio and total return on equity.
“I am extremely proud of our company and the progress we have made in the past four years,” said Gary Bucker, executive vice president and general manager of Oklahoma Farm Bureau Insurance. “As the largest domestic insurance company in Oklahoma, our employees and leadership team are proud to provide insurance products and services that protect our friends and neighbors across the state, and this improved rating only underscores that fact.”
The credit report also cites that OKFB Insurance management’s aggressive actions in overall risk management and exposure have resulted in consistent and stable operating results, which is the main drive to the rating upgrades.
For more information on A.M. Best Rating Services, Inc. Financial Strength Ratings methodology, visit www.ambest.com/home/ratings.aspx.*Oklahoma Farm Bureau Insurance has no input in the rating methodologies used by A.M. Best Rating Services, Inc.
About Oklahoma Farm Bureau Insurance
Since 1946, Oklahoma Farm Bureau Insurance has worked to maintain its position as the leading Oklahoma-based insurance company for Oklahomans from all walks of life. The company protects Oklahomans in all 77 counties from the risks they face every day, and because eachagent lives and works in Oklahoma, they are present when needed most. To learn more, visitwww.okfbinsurance.com.