Farmers Life is Financially Strong
A message from Farmers Life CEO C. Paul Patsis responding to today's Wall Street Journal article discussing the financial markets dragging down the Life insurance industry.
Many Life insurance companies have been in the news lately for investment losses, bailouts, and requests for special treatment by state regulators.
Farmers Life is not among these companies.
We have seen five straight years of increasing profitability. 99% of our investments are in investment grade bonds, and our capital reserves stand at six times regulatory requirements. We have resisted the industry trend to offer the types of variable products that expose insurers to huge market risks. We have the strength to serve our existing customers, as well as to offer protection to customers across the nation who are finding their group coverage gone and their investments depressed. Our financial strength and our products offer real value and security to these customers.
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