A.M. Best Revises Outlook to Stable for Michigan Farm Bureau Group

OLDWICK, N.J.--(Business Wire)--
A.M. Best Co. has revised the outlook to stable from positive and affirmed the
financial strength rating of A- (Excellent) and issuer credit ratings of "a-" of
Michigan Farm Bureau Group and its members, Farm Bureau Mutual Insurance Company
of Michigan and Farm Bureau General Insurance Company of Michigan. All companies
are domiciled in Lansing, MI.

The ratings reflect Michigan Farm Bureau Group`s solid capitalization, generally
favorable operating earnings and its strong market presence in Michigan. The
ratings also recognize the group`s strong market presence in the agricultural
market, where it has the support of the Michigan Farm Bureau Federation.

Somewhat offsetting these positive rating factors is the group`s geographic
concentration in Michigan, which exposes it to frequent and severe weather
related events and localized storms as well as changes in the judicial,
legislative and regulatory environments. In addition, the group maintains
elevated ceded reinsurance leverage due to its mandatory participation in the
Michigan Catastrophic Claims Association. The revised outlook is primarily due
to the deterioration in the group`s operating results in 2007 and 2008, which
were impacted by significant weather activity and increased fire losses.

For Best`s Credit Ratings, an overview of the rating process and rating
methodologies, please visit www.ambest.com/ratings.

The principal methodologies used in determining these ratings, including any
additional methodologies and factors, which may have been considered, can be
found at www.ambest.com/ratings/methodology.

Founded in 1899, A.M. Best Company is a global full-service credit rating
organization dedicated to serving the financial and health care service
industries, including insurance companies, banks, hospitals and health care
system providers. For more information, visit www.ambest.com.

A.M. Best Co.
Analysts:
Bob Podolski, 908-439-2200, ext. 5731
bob.podolski@ambest.com
or
Joseph Burtone, 908-439-2200, ext. 5125
joseph.burtone@ambest.com
or
Public Relations:
Jim Peavy, 908-439-2200, ext. 5644
james.peavy@ambest.com
or
Rachelle Morrow, 908-439-2200, ext. 5378
rachelle.morrow@ambest.com

Copyright Business Wire 2009