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Article: S&P Lowers Farmers New World Life Financial Strength Rating to 'AA-pi'.
- Article from:
- PR Newswire
- Article date:
- September 5, 2001
CopyrightCOPYRIGHT 2001 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK, Sept. 5 /PRNewswire/ --
Standard & Poor's today lowered its financial strength rating on Farmers New World Life Insurance Co. (FMWL) to double-'A'-minus-pi from double-'Api'.
Headquartered in Mercer Island, Wash., FMWL (NAIC: 63177) operates as the life insurance provider for its parent, Farmers Group Inc. (double-'A'-plus issuer credit rating), one of the largest property/casualty groups in the U.S. The company, which began operations in 1911, is licensed in 42 states and the District of Columbia.
Major Rating Factors:
* The financial strength rating on FMWL is limited by the rating on
its parent.
* ...