FLORIDA FARM BU CASUALTY INS CO
Major Rating Factors:
Weak profitability index (1.3 on a scale of 0 to 10) with operating losses during 2018, 2020, 2021 and 2022. Average return on equity over the last five years has been poor at -14.8%. Weak overall results on stability tests (2.8) including weak results on operational trends and negative cash flow from operations for 2022.
Other Rating Factors:
Fair reserve development (4.3) as reserves have generally been sufficient to cover claims. Fair liquidity (4.0) as cash resources may not be adequate to cover a spike in claims. Strong long-term capitalization index (7.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels.
Stability Factors:
F - Negative cash flow.
L - Past results on our liquidity tests.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (68.6%), homeowners (31.4%)
Licensed in:
FL
Principal Investments:
Investment grade bonds (79.4%), common stock (11.6%), cash (5.9%), real estate (1.0%), other (2.0%)
Corporate Info
Group Affiliation
Southern Farm Bureau Casualty
Investment Rating
--
Company Address
5700 SW 34th Street
Gainesville, FL 32608
Gainesville, FL 32608
Phone Number
(352) 374-1512
NAIC Number
31216
Website
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