The Pekin Insurance Group is comprised of four companies:
- The Farmers Automobile Insurance Association (FAIA): Formed as a reciprocal exchange in 1921, FAIA is a full lines property & casualty company.
- Pekin Insurance Company (PIC): A capital stock company whose shares are wholly owned by FAIA. PIC was formed in 1961 and also writes a full array of property & casualty products.
- Pekin Life Insurance Company (PLIC): A capital stock company which was formed in 1965. The majority shareholder of PLIC is FAIA and PIC with the remaining shares traded publicly. PLIC writes a full array of life, health, and annuity products.
Annual Shareholders’ Report
Letter to Shareholders – Current Financial Results
- Pekin Select Insurance Company (PSIC): A capital stock company whose shares are wholly owned by FAIA. PSIC was formed in 2019 and currently offers workers compensation insurance.
Pekin Insurance Company
Farmers Automobile Insurance Association
Pekin Life Insurance Company
Pekin Select Insurance Company
A.M. Best Company is a full-service credit rating organization dedicated to serving the insurance industry. Policyholders refer to Best’s ratings and analysis as a means of assessing the financial strength and creditworthiness of risk-bearing entities and investment vehicles.
They have been assigning credit ratings since 1906, making it the first of today’s rating agencies to use symbols to differentiate the relative creditworthiness of companies.
Best’s Credit Ratings are independent opinions regarding the creditworthiness of an issuer or debt obligation. Best’s Credit Ratings are based on a comprehensive quantitative and qualitative evaluation of a company’s balance sheet strength, operating performance and business profile, or, where appropriate, the specific nature and details of a debt security.