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S&P Affirms Georgia Farm Bureau Cas Ins Co 'Api' Rtg

4 October 1999

S&P Affirms Georgia Farm Bureau Cas Ins Co 'Api' Rtg

    NEW YORK--Standard & Poor's--Oct. 4, 1999-- Standard & Poor's today has affirmed its single-'Api' financial strength rating on Georgia Farm Bureau Casualty Insurance Co.
    Georgia Farm Bureau Casualty is a stock company based in Macon, Georgia, and is licensed only in Georgia. Its major lines of business are automobile insurance and homeowners multiperil insurance. It is a member of the Georgia Farm Bureau Group, a large insurance group (surplus in excess of $100 million). The company commenced operations in 1989.

    Major Rating Factors:

    -- As a wholly owned and reinsured subsidiary of Georgia Farm Bureau Mutual Insurance, Georgia Farm Bureau Casualty is assigned its parent's rating of single-'Api'.
    'Pi' ratings, denoted with a pi subscript, are insurer financial strength ratings based on an analysis of an insurer's published financial information and additional information in the public domain. They do not reflect in-depth meetings with an insurer's management and are therefore based on less comprehensive information than ratings without a pi subscript. Pi ratings are reviewed annually based on a new year's financial statements, but may be reviewed on an interim basis if a major event that may affect the insurer's financial security occurs. Ratings with a pi subscript are not subject to potential CreditWatch listings.
    Ratings with a pi subscript generally are not modified with 'plus' or 'minus' designations. However, such designations may be assigned when the insurer's financial strength rating is constrained by sovereign risk or the credit quality of a parent company or affiliated group, Standard & Poor's said.--CreditWire