"In 2001, Farmers Home Mutual Insurance Co. Group (The Group) had a net loss of $7.2 million, compared with a net loss of $4.1 million in 2000," noted credit analyst Allison MacCullough. She added "The Group's operating performance for the first nine months of 2002 has also been poor, with a net loss of $1.7 million."
Ratings with a 'pi' subscript are insurer financial strength ratings based on an analysis of an insurer's published financial information and additional information in the public domain. They do not reflect in-depth meetings with an insurer's management and are therefore based on less comprehensive information than ratings without a 'pi' subscript. Ratings with a 'pi' subscript are reviewed annually based on a new year's financial statements, but may be reviewed on an interim basis if a major event that may affect the insurer's financial security occurs. Ratings with a 'pi' subscript are not subject to potential CreditWatch listings.
Ratings with a 'pi' subscript generally are not modified with "plus" or "minus" designations. However, such designations may be assigned when the insurer's financial strength rating is constrained by sovereign risk or the credit quality of a parent company or affiliated group.