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Thursday, April 7, 1994
Home Edition
Section: Business
Page: D-2
BRIEFLY;

INSURANCE;

By: From Times Staff and Wire Reports


Quake Losses Prompt Ratings Review for Farmers Group: Insurance
rating agency A. M. Best Co. said it placed Farmers Insurance Group's "A"
(Excellent) rating under review because of Farmers' announced $600
million in gross claims from the Jan. 17 Northridge earthquake. Best
estimated that quake claims would wipe out 15% of Farmers' capital. Best
said it expected to complete its review next month after evaluating the
insurer's efforts to bolster its surplus and reduce its exposure to
catastrophe losses. Los Angeles-based Farmers is California's
third-largest carrier of property and casualty insurance.




---- START OF CORRECTION ----
For the Record
Los Angeles Times Friday April 8, 1994
Home Edition Business Part D Page 2 Column 6 Financial Desk
1 inches; 30 words
Type of Material: Correction

Farmers Group--Farmers Group is California's second-largest
insurance carrier in total property casualty business, after State Farm.
A Briefly item in Thursday's editions incorrectly ranked the company.
---- END CORRECTION TEXT ----
%


Type of Material: News Brief
Descriptors: A M BEST CO; FARMERS INSURANCE GROUP; INSURANCE CLAIMS; EARTHQUAKES -- LOS ANGELES;

Copyright (c) 1994 Times Mirror Company

 

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