Financial Strength Rating Upgraded AM Best

FLEMINGTON, NJ – Farmers Insurance Company of Flemington announced today that its Financial Strength Rating (FSR) has been upgraded to A- (Excellent) by AM Best Rating Services, the world’s oldest and most authoritative insurance rating and information source.  The company’s Issuer Credit Rating (ICR) was also upgraded to “a-, Excellent” and the outlook for both ratings is Stable.

“We’ve worked very hard to improve every aspect of our business to enhance our financial strength and better serve our Policyholders,” said Scott St. Angel, President & CEO of Farmers. “We believe the upgrade to the A- rating reflects the success of those efforts.”

According to AM Best, the rating upgrades were prompted by the favorable trends in Farmers’ balance sheet, which AM Best characterizes as “very strong.” In addition, the company has significantly reduced its catastrophe exposure and demonstrated operating results that compare favorably with the rating agency’s composite of similar property and casualty insurers.

“This upgrade is a meaningful acknowledgement of the work that has been done by our team in partnership with our Independent Agents,” Mr. St. Angel added. “Earning an upgrade is no easy task and we are proud to have advanced from a B+ to an A- rating in just five years. We are excited for the future as we continue to improve our products and services for the benefit of our Policyholders.”

About Farmers Insurance Company of Flemington

Farmers Insurance Company of Flemington is a mutual property and casualty insurance company focused exclusively on the New Jersey market.  Established in 1856, Farmers of Flemington offers its personal and commercial insurance products through a network of professional Independent Insurance Agents who provide service, advice and advocacy to its Policyholders. The Company is rated A- (Excellent) with a stable outlook by AM Best. More information is available on the company’s website at:

AM Best Upgrades Ratings of Farmers Insurance Company of Flemington

OLDWICK, N.J. – AM Best has upgraded the Financial Strength Rating to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating to “a-” from “bbb+” of Farmers Insurance Company of Flemington (FICF) (Flemington, NJ). The outlook of these Credit Ratings (ratings) is stable.


The ratings reflect FICF’s balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.The rating upgrades are the result of favorable trends in FICF’s balance sheet strength, including improved risk-adjusted capitalization, decreased common stock leverage and consistently favorable loss reserve development. AM Best’s balance sheet strength assessment of very strong is supported by FICF’s risk-adjusted capitalization being at the strongest level, along with favorable liquidity measures and moderate catastrophe exposure net of reinsurance. These positive factors were hindered somewhat in past years by elevated tail-risk exposure and underwriting leverage ratios, both of which have continued to display improvement in recent years.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media – Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit

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David Braisted
Financial Analyst
+1 908 439 2200, ext. 5120

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159

Kenneth E. Tappen
Senior Financial Analyst
+1 908 439 2200, ext. 5248

Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644

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