American Ag has a solid financial foundation and more than 70 years of experience. With $992 million in gross premium written in 2018, we rank among the world’s 50 largest reinsurance groups, as rated by A.M. Best.
American Agricultural Insurance Company is rated “A” (Excellent) by A.M. Best.
CEO Quarterly Update
2020 First Quarter Results
During the first quarter of 2020, American Ag had a small underwriting gain of $494,229, a loss ratio of 81.0%, and a combined ratio of 101.1%. Surplus declined by $16,656,301, and we ended on 3/31/2020 with $603,262,870 of surplus (a loss of 2.7%).
We experienced stock market losses during the quarter and also $8.3M of losses from the COVID-19 pandemic – $1.3M of reported losses and $7M of IBNR – which are expected to come mostly from the Broker Assumed international business.