State Farm Lloyds wins AM Best upgrade

AM Best has lifted the financial strength rating of Texas
commercial and homeowners' carrier State Farm Lloyds from B++
to A-.
It also lifted the long-term issuer credit rating to a- from
bbb+.
The ratings agency said the decision reflected the
subsidiary's "strengthened risk-adjusted capitalisation
(and) favourable earnings in most of the past five years" as
well as the benefits of being part of the larger State Farm
Group.
Bloomington, Illinois-based State Farm is the US' largest
P&C insur