Posted: May 5th, 2022

FHM Insurance Company

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They are reports prepared by AM Best, the prominent organization that provides independent ratings of insurance companies globally. These
reports are protected by copyright, but I obtained permission to share them with you. Some financial data appears in both reports. Read both of them, but you will probably find the Best’s Credit Report most useful.
The subject of the reports is FHM Insurance Company. They are currently rated B+ by AM Best. While that may not sound bad, it is not a good rating. While the company is not on the brink of bankruptcy, they have had some serious problems over the years. Some companies that are
looking for insurance will not consider an insurance carrier with a rating below A-.
Please address the following questions. Do not simply copy text from the reports. Read, understand, and explain the relevant material.
Provide a brief history of FMH, including a description of what they offer, where they offer it, how their premium has grown/declined, rating history, major challenges, and recent developments.
Comment on the issue of risk concentration – geographic, target markets, product, etc. How might a major hurricane in Florida affect them? The pandemic?
Comment on profitability over the past years.
Comment on the investment portfolio. What do you think will happen as the Fed drives interest rates higher?
Comment on their reinsurance program.
Comment on your impression of the outlook after their recent affiliation with LUBA.
Any other insights that relate to the subject matter we have covered this semester.

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