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FOR IMMEDIATE RELEASE
OLDWICK, N.J. - MARCH 13, 2008 12:00 AM (EDT)
A.M. Best Co. has withdrawn the financial strength rating of A (Excellent) and assigned a category of NR-5 (Not Formally Followed) to KFB Insurance Company, Inc. (KFB) (Manhattan, KS).
KFB had been a wholly owned subsidiary of Farm Bureau Mutual Insurance Company (Farm Bureau Mutual) and a fully reinsured member of Farm Bureau Mutual Group (both of West Des Moines, IA). KFB was dissolved effective December 19, 2007 following the substantial completion of run-off operations, and Farm Bureau Mutual assumed all remaining liabilities of KFB.
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Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers.