B
Farm Bureau Ins of NC Inc
RaleighNC
Rating Date
June 2025
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Loss
Ratio
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Total
Assets
Capital
Net
Premiums
Net
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Major Rating Factors: Good profitability index (4.9 on a scale of 0 to 10) with operating gains in each of the last five years. Excellent expense controls. Return on equity has been low, averaging 1.7% over the past five years. Fair reserve development (3.6) as reserves have generally been sufficient to cover claims. Fair overall results on stability tests (4.6) including excessive premium growth. Strengths include potentially strong support from affiliation with North Carolina Farm Bureau Mutual Ins Co.
Other Rating Factors: Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital levels have been consistent in recent years. Excellent liquidity (7.0) with ample operational cash flow and liquid investments.
Stability Factors: D - Limited diversification of general business, policy, and/or investment risk.
Principal Lines of Business: Reinsurance (100.0%)
Licensed in: NC
Principal Investments: Investment grade bonds (58.2%), cash (40.0%), other (1.8%)
Ratios
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Reserve to Surplus
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1-Year Reserve Development
2-Year Reserve Development
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Cash From Underwriting
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Net Premium Growth
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Investments in Affiliates
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Corporate Info
Group Affiliation
North Carolina Farm Bureau Mutual Ins Co
Investment Rating
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Company Address
5301 Glenwood Avenue
Raleigh, NC 27612
Phone Number
(919) 782-1705
NAIC Number
10034
Largest Affiliates