Market Overview

A.M. Best Assigns Credit Ratings to New Horizons Insurance Company of Missouri, Affirms Credit Ratings of Farm Bureau Town and Country Insurance Company of Missouri


A.M. Best has assigned a Financial Strength Rating (FSR) of A-
(Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of "a-"
to New Horizons Insurance Company of Missouri (New Horizons). The
outlook assigned to these Credit Ratings (ratings) is stable.
Concurrently, affirmed the Financial Strength Rating (FSR) of A-
(Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of
"a-" of Farm Bureau Town and Country Insurance Company of Missouri
(FBTC). The outlook of these ratings is stable. New Horizons is a newly
added member of the Missouri Farm Bureau Group (Missouri Farm Bureau),
of which FBTC is the other member. All companies are domiciled in
Jefferson City, MO.

The ratings of Missouri Farm Bureau Group reflect the companies' balance
sheet strength, which A.M. Best categorizes as very strong, as well as
its adequate operating performance, limited business profile and
appropriate enterprise risk management.

Missouri Farm Bureau Group exhibits balance sheet strength assessed at
the very strong level, and maintains solid liquidity and leverage
measures. However, these favorable balance sheet attributes are offset
by the limited financial flexibility of the group, given its limited
access to the capital markets. Missouri Farm Bureau Group's operating
performance is adequate. This assessment includes favorable underwriting
performance observed over the past five years, which is owed to the
company's favorable expense structure and exclusive captive agency
network. The expense savings have served to offset the impact of
elevated loss experience in earlier years from weather events in the
state. As a result, the group's five-year average pre-tax and total
returns on revenue and equity are solid and compare favorably with the
composite. The ratings also reflect the group's limited business
profile. As a single state writer in Missouri, the group is exposed to
frequent and severe weather related events, as well as any judicial,
regulatory or economic concerns that may arise.

The addition of New Horizons to the group reflects its strategic
importance to the Missouri Farm Bureau Group's geographic
diversification strategy, and its sharing of common management and
operational capabilities.

This press release relates to Credit Ratings that have been published
on A.M. Best's website. For all rating information relating to the
release and pertinent disclosures, including details of the office
responsible for issuing each of the individual ratings referenced in
this release, please see A.M. Best's
Rating Activity
web page. For additional information
regarding the use and limitations of Credit Rating opinions, please view
Best's Credit Ratings
. For information on the proper media
use of Best's Credit Ratings and A.M. Best press releases, please view
for Media - Proper Use of Best's Credit Ratings and A.M. Best Rating
Action Press Releases

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