AM Best has placed under review with positive implications the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Mountain West Farm Bureau Mutual Insurance Company (Mountain West) (Laramie, WY).

The Credit Ratings (ratings) have been placed under review with positive implications following the announcement of a strategic transaction to merge Mountain West into IFB Mutual Insurance Holding Company, the parent company of Farm Bureau Insurance Company of Idaho. The merger is expected to strengthen Mountain West’s capital position, as its new parent brings in a more robust capital base. As part of a larger, more profitable group with a strong operating track record, Mountain West is also expected to benefit from improved financial and operational benefits such as improved capital efficiency, risk diversification and an enhanced competitive position.

The merger follows a period of volatility in Mountain West’s operating performance over the past two years, which led to material erosion of the company’s capital position along with a deterioration of its overall balance sheet strength metrics. In response, Mountain West has pursued several profitability initiatives such as increasing rate in line with indications, increased use of data and analytics, as well as exposure management. Results through the first half of 2025 have shown improvement relative to the same period last year.

The merger process will take approximately four months and is subject to regulatory approval. The ratings will remain under review with positive implications until the transaction closes, including customary regulatory approvals, and until AM Best completes its evaluation of the new relationship post transaction.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

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