Major Rating Factors:
Good quality investment portfolio (5.9 on a scale of 0 to 10) despite significant exposure to mortgages . Mortgage default rate has been low. substantial holdings of BBB bonds in addition to small junk bond holdings. Good overall profitability (6.9). Return on equity has been low, averaging 3.8%. Good Liquidity (6.1).
Other Rating Factors:
Fair overall results on stability tests (3.9) including negative cash flow from operations for 2024. Strong capitalization (9.0) based on excellent risk adjusted capital (severe loss scenario).
Stability Factors:
F - Negative cash flow.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Ind annuities (26.1%), group annuities (1.0%), group life (0.8%), other (72.1%)
Licensed in:
MI, OH, OK
Investments
Invested Assets
Cash
CMO & Structured Securities
Other Investment Grade Bonds
Non-Investment Grade Bonds
Common & Preferred Stock
Mortgages in Good Standing
Non-Performing Mortgages
Real Estate
Other Investments
Investments in Affiliates
Corporate Info
Group Affiliation
Michigan Farm Bureau
Investment Rating
--
Company Address
7373 WEST SAGINAW HIGHWAY
Lansing, MI 48917
Lansing, MI 48917
Phone Number
(517) 323-7000
NAIC Number
63096
Website
Largest Affiliates