AM Best lifts outlook on Canada’s Farm Mutual Re to positive
ReutersJul 18, 2025 10:38 AM
By Ashish Tiwari
July 18 - (The Insurer) - AM Best has revised its outlook on Farm Mutual Reinsurance Plan to positive from stable.
The rating agency affirmed Farm Mutual Re's financial strength rating at B-plus-plus, citing improved underwriting performance and stronger earnings.
The outlook revision reflects continued favourable reserve development and the success of a strategic plan launched in 2020 to restore profitability after years of catastrophe-related losses.
The Ontario-based reinsurer posted record net income of C$105.2 million ($76.7 million) last year, benefiting from disciplined underwriting, rate hikes, improved risk selection and tighter expense management, AM Best said in a statement.
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