AM Best has revised the outlooks to positive from stable for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICRs of “bbb” (Good) of Georgia Farm Bureau Mutual Insurance Company and Georgia Farm Bureau Casualty Insurance Company, collectively referred to as the Georgia Farm Bureau Group (Georgia Farm Bureau). Both companies are domiciled in Macon, GA. The outlook of the FSR is stable.

The Credit Ratings (ratings) reflect Georgia Farm Bureau’s balance sheet strength, which AM Best assesses as strong, as well as its marginal operating performance, limited business profile and appropriate enterprise risk management (ERM).

The revised Long-Term ICR outlooks to positive from stable reflect the profitable trend established in Georgia Farm Bureau’s operating results in full year 2025 and through year-to-date 2026. The improved results are attributed to a greater emphasis on rate adequacy, enhanced underwriting techniques, and lower overall frequency and severity of weather-related events. Overall, weather-related losses were below budget in 2025 and there were no hurricanes that materially affected Georgia Farm Bureau’s results. The group reported a sub-90s combined ratio in 2025, alongside over $65 million in underwriting profits, contributing to organic surplus appreciation of nearly 25%. Year-to-date 2026 results exhibit a continuation of this trend, again largely owed to management’s various performance improvement initiatives, as well as lower frequency and severity of weather-related events. AM Best expects that prospective operating performance metrics will more closely align with the adequate operating performance assessment, benefiting from exposure management strategies implemented to mitigate future loss impacts from weather-related events and pricing adjustments applied as necessary.

AM Best assesses Georgia Farm Bureau’s overall balance sheet strength as strong, reflective of the group’s strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), a generally conservative investment portfolio, stable reserving trends, and a high-quality reinsurance program. The limited business profile assessment considers the group’s geographic concentration solely in the hurricane-prone state of Georgia, which exposes results to frequent and severe weather and competitive market conditions, as well as potential regulatory/economic conditions in the state. Lastly, AM Best assesses Georgia Farm Bureau’s ERM as appropriate, reflecting a developed risk management framework that is embedded within daily operations and risk management capabilities, which align with its risk profile.

This press release relates to Credit Ratings that have been published on AM 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 AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

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