AM Best has upgraded the FSR to A- (Excellent) from B++ (Good) and the Long-Term ICR to “a-” from “bbb+” of State Farm Florida Insurance Co. (State Farm Florida) based in Winter Haven, Fla.
The outlook of these ratings has been revised to stable from positive.
The ratings of State Farm Florida reflect its balance sheet strength, which AM Best categorizes as adequate, as well as its adequate operating performance, neutral business profile and appropriate ERM. The ratings also reflect lift, as defined within BCRM, from its parent, State Farm Mutual.
Source: AM Best
Was this article valuable?
Here are more articles you may enjoy.
Trump Says Illegal Immigration Increased Car Insurance but Experts Say Otherwise 
Virginia’s New Gun Laws Challenged by Some Local Prosecutors and Lawsuits 
Intersecting Risks and the Future of Construction Insurance 
Big I: Independent Agencies’ Market Share Up Slightly in 2025 
