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  April 22, 2011

AM Best has affirmed Producers Ag Insurance Group’s (ProAg’s) Financial Strength Rating of A- (Excellent) and Stable Outlook. The rating applies to Producers Agriculture Insurance Company and its 100% reinsured affiliate, Producers Lloyds Insurance Company, and reflects ProAg’s adequate capitalization, historical operating profitability, strong agency relationships and management's extensive experience (Mike Connealy, CEO; Kendall Jones, COO; Bob Parkerson, SVP and Director) with the federally sponsored multiple peril crop insurance program (MPCI).

ProAg’s management team is very pleased with this rating, as it directly reflects our ability to continue to serve the American farmer. For more than 80 years, ProAg has been a leader in service and innovation within the crop insurance industry. Our rich history, commitment to service, and financial strength set ProAg apart from the competition.

AM Best has also affirmed CUNA Mutual Insurance Society’s Financial Strength Rating of A (Excellent) and revised its Outlook to Stable. CUNA Mutual is ProAg’s ultimate parent, and is the premier provider of insurance products to credit unions and credit union members since 1935. The revised outlook reflects CUNA Mutual’s improved balance sheet and decreased realized loss position, as well as its reported unrealized gains. The company continues to maintain a well diversified investment portfolio and has taken initiatives to improve the overall quality of its balance sheet. Additionally, the ratings acknowledge the company’s continued position as the leading provider of life/health insurance products to members and employees of credit unions, its more than adequate risk-adjusted capitalization as measured by Best’s Capital Adequacy Ratio (BCAR), consistently positive net operating gains and improved balance sheet on a consolidated basis.


The insurance products offered by Producers Ag Insurance Group, Inc. d/b/a ProAg® may not be a complete list of all products offered and may not be offered in all states. ProAg prohibits discrimination on the basis of race, color, national origin, sex, religion, disability, political beliefs, and marital or familial status.

The U.S. Department of Agriculture (USDA) prohibits discrimination in all its programs and activities on the basis of race, color, national origin, age, disability, and where applicable, sex, marital status, familial status, parental status, religion, sexual orientation, genetic information, political beliefs, reprisal, or because all or a part of an individual's income is derived from any public assistance program. (Not all prohibited bases apply to all programs.) Persons with disabilities who require alternative means for communication of program information (Braille, large print, audiotape, etc.) should contact USDA's TARGET Center at 202-720-2600 (voice and TDD).

To file a complaint of discrimination write to:

USDA
Director, Office of Civil Rights
1400 Independence Avenue, S.W.
Washington, D.C. 20250-9410
or call 800-795-3272 (voice)
or 202-720-6382 (TDD).

USDA is an equal opportunity provider and employer.

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