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FOR IMMEDIATE RELEASE
OLDWICK, N.J. - JULY 26, 2011 12:00 AM (EDT)
A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) and issuer credit rating of "a-" of The FB Insurance Company, a subsidiary of Kentucky Farm Bureau Mutual Insurance Company. Concurrently, A.M. Best has withdrawn the ratings at the company's request. FB Insurance is in run off and policyholders' liabilities are expected to be moved to the parent by the end of 2011. Both companies are domiciled in Louisville, KY.
The principal methodology used in determining these ratings is Best's Credit Rating Methodology - Global Life and Non-Life Insurance Edition, which provides a comprehensive explanation of A.M. Best's rating process and highlights the different rating criteria employed. Additional key criteria utilized include "Understanding BCAR for Property/Casualty Insurers." Methodologies can be found at www.ambest.com/ratings/methodology.
Founded in 1899, A.M. Best Company is the world's oldest and most authoritative insurance rating and information source.