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A.M. Best Announces Rating Upgrade for AGRI GENERAL INSURANCE COMPANY
We are pleased to announce that on May 17, 2004, A.M. Best Company, the most recognized insurance company rating agency, upgraded Agri General Insurance Company’s Rating from A- to A (Excellent).
As part of their rationale for the rating upgrade, A.M. Best explained, “the rating reflects the company’s solid capitalization, historically strong operating earnings and leading niche market position within the multiple peril crop insurance (MPCI) field.”
Agri General ended 2003 with a record Surplus of nearly $157,600,000 and Net Written Premium of $296,000,000. The Company has steadily increased both its surplus and premium writings since its formation in 1983. It has been this steady growth of the Company and its ability to obtain, service and maintain a profitable book of business that has led to this most recent rating upgrade.
Agri General Insurance Company is a wholly-owned subsidiary of Rain and Hail Insurance Service, Inc., an insurance holding company domiciled in Iowa. Agri General’s insurance business is serviced by its wholly-owned subsidiary, Rain and Hail L.L.C.
Our challenge to all employee-owners of Rain and Hail Insurance Service, Inc. is to continue to grow the Company by developing and servicing business in both the crop and agribusiness lines of insurance that will continue to make Agri General Insurance Company and Rain and Hail one of the leading insurance providers to rural America. This upgrade is an affirmation of the dedication and hard work continuously provided by our employees.
We are proud to provide our agency force and business partners with a financially strong, stable and secure company to service and support their agricultural clients.
