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Our Financial Strength

Selecting the right insurance company is an important financial decision. In order to succeed, an insurance company has to demonstrate the ability to withstand unpredictable natural and economic challenges. FCCI has a long tradition of acting responsibly and weathering ups and downs. Given our financial strength, you can rest assured knowing FCCI is able to keep our promises and fulfill our obligations.

A.M. Best Company rates FCCI Insurance Group A (Excellent) with a Stable outlook. This rating is based on analyses of our financial strength, operating performance and business profile. With $3 billion in total assets, including an investment portfolio of $2.0 billion, FCCI provides stability and peace of mind you can count on.

  • Rated A

    (Excellent) by A.M. Best

  • $3.0B

    Total Assets

  • $2.0B

    Investment Portfolio

  • $1.1B

    Direct Written Premium

Our Financial Report

We're proud of our financial responsibility and strength and invite you to read our 2023 consolidated financial statements.

VIEW 2023 FINANCIAL STATEMENTS
Front Cover Annual Report Read 2023 annual report

Annual Report Archives

FCCI's annual report tells the story of financial strength, teammate dedication and how we deliver on our promise year-round to agency partners and policyholders. Here are the more recent FCCI annual reports.

Why we succeed

A.M. Best Company rates FCCI Insurance Group A (Excellent) with a Stable outlook. FCCI's rating is based on a comprehensive analysis of FCCI's financial strength, operating performance and business profile, including evaluation of:

  • Assets: FCCI has $3 billion in total assets and $2.0 billion in cash and investments.
  • Balance sheet strength: Best's capital adequacy ratio, better known as BCAR, is based on an insurer's underwriting and financial performance tested against potential scenarios and how they would affect that company’s balance sheet. At a VaR confidence level of 99.6, FCCI's BCAR score of 47.6 means we have 47.6% more capital than A.M. Best requires to be financially secure.
  • Reserve quality: FCCI appropriately sets reserves based on recommended actuarial estimates. FCCI does not discount workers' compensation loss and allocated adjustment expense reserves, although many other insurance companies do.

FCCI’s exceptional rating reflects our strong capital position, solid operating performance, geographic expansion and premium diversification. A.M. Best also acknowledges our dedication to disciplined underwriting, strong claims management, long-lasting relationships with agents, strong medical management capabilities, extensive risk control procedures, advanced use of technology and sophisticated predictive analytics tools.

A.M. Best Company is the most recognized and trusted rating authority dedicated to the insurance industry. They provide comprehensive insurance ratings on more than 16,00 insurance entities in more than 100 countries. For the latest rating, access www.ambest.com.

Operating Performance
An insurer's operating performance demonstrates its financial strength and ability to meet ongoing obligations to policyholders. FCCI's operating performance has been consistently strong for more than a decade.

Our Investment Philosophy
FCCI invests in a conservative portfolio to limit our exposure to market shifts and maintain our ability to meet our obligations to policyholders.

Our Reinsurance Program
Reinsurance plays an essential role in the risk spreading process and provides insurers with varying degrees of financial stability. A company's reinsurance program should be appropriate relative to its business, its policy limits, its underwriting risks, its catastrophe exposures, and its financial capacity. In addition, a reinsurance program should include good credit quality reinsurers – because if a reinsurer fails to respond to its share of a loss, the company might have to absorb the entire loss.

FCCI's reinsurance program involves several of the top reinsurers in the marketplace.

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