Louisiana

AM Best downgrades Louisiana Farm Bureau with negative outlook – Reinsurance News

Published

2 years ago

June 12, 2024

AM Best downgrades Louisiana Farm Bureau with negative outlook – Reinsurance News

AM Best has downgraded Louisiana Farm Bureau Mutual Insurance Company credit ratings and assigned them a negative outlook, a move that reflects the company’s deterioration of its key balance sheet strength.

Louisiana Farm Bureau Financial Strength Rating has been downgraded to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating was downgraded to “bbb” (Good) from “a-” (Excellent).

According to the agency, these ratings reflect the company’s balance sheet strength, which AM Best assesses as strong, as well as its marginal operating performance, limited business profile and appropriate enterprise risk management (ERM).

Yet, the downgrades reflect deterioration in Louisiana Farm Bureau’s key balance sheet strength and operating return metrics, which AM Best notes, “have come in the form of policyholder’s surplus erosion and declining levels of risk-adjusted capitalization.”

It continued: “In addition, operating performance has trended downward over the past few years and was adverse particularly in 2023. The volatility has stemmed predominately from much higher reinsurance costs over the past several years following catastrophe loss activity from Hurricanes Ida, Laura and Delta. Also, inflationary pressures on loss costs and convective storm activity over the past few years has contributed further to the deterioration.

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“As a result, the company’s five-year average operating return metrics have fallen materially relative to the personal property industry composite. Surplus has also fallen in four out of the past five years, with the largest decline occurring in 2023.”

Louisiana Farm Bureau has been able to address the adverse trends through stricter underwriting guidelines, and sizable rate increases, which should somewhat offset the material increase in reinsurance costs, according to the agency.

“In an effort to stabilise its operating performance and balance sheet strength metrics, Louisiana Farm Bureau also continues to focus diligently on managing its coastal exposures, property inspections, and refining its underwriting standards,” AM stated.

Concluding: “However, given the severity of loss over the past several years, it remains to be seen whether these initiatives will be proven effective. As a result, there is a negative outlook for the ratings, which encompasses pressure on the company’s ERM building block assessment. If these trends continue, there could be a downward revision in the company’s ERM assessment.”

The news of Louisiana Farm Bureau credit ratings follow AM Best announcement regarding the downgrade of Farm Bureau Mutual Insurance Company of Arkansas (FBMICA) credit ratings.

According to the agency, these downgrades were driven by ongoing severe weather-related losses, which have significantly weakened FBMICA’s policyholder surplus and overall risk-adjusted capitalisation.

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Louisiana

Shavers leads ULM past Louisiana 79-63

Published

11 hours ago

March 5, 2026

Press Room

PENSACOLA, Fla. — Marcavia Shavers posts 21 points and 13 rebounds to lead ULM Warhawks women’s basketball past Louisiana 79-63 in the Sun Belt Conference tournament.

ULM (15-15, 7-11 Sun Belt) took control early, outscoring Louisiana 17-7 in the first quarter and extending the lead to 41-21 by halftime. The Warhawks never trailed and led by as many as 28 points in the second quarter.

Shavers anchored the inside for ULM, finishing 9-of-15 from the field with 13 rebounds. Jazmine Jackson added 17 points off the bench, knocking down four 3-pointers, while J’Mani Ingram scored 16 points and dished out six assists.

ULM shot 46.9% from the field and held a 42-27 advantage on the boards. The Warhawks also converted Louisiana turnovers into 29 points and scored 26 second-chance points.

Louisiana (5-26, 2-16 Sun Belt) was led by Mikaylah Manley with 18 points and Imani Daniel with 17 points and seven rebounds. Amijah Price chipped in 12 points.

After struggling early, Louisiana shot better in the second half, scoring 42 points after the break. However, the early deficit proved too much to overcome.

ULM advances in the Sun Belt tournament, while Louisiana closes its season with the loss.
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Louisiana

State Treasurer John Fleming accuses Jeff Landry of interfering in Louisiana Senate race

Published

23 hours ago

March 4, 2026

Press Room

State Treasurer John Fleming accuses Jeff Landry of interfering in Louisiana Senate race

BATON ROUGE (KNOE) – Louisiana State Treasurer John Fleming is accusing Governor Jeff Landry of interfering with the state Senate race, which Fleming is a part of.

Fleming took to social media to accuse Landry of working “behind the scenes” to get Congresswoman Julia Letlow elected to the Senate.

According to Fleming, Dr. Ralph Abraham offered him the position of Deputy Director of the CDC shortly before announcing he was stepping down. Fleming said he politely declined.

A week later, news broke that Abraham is now leading Letlow’s Senate campaign.

“We know that Jeff has been heavily lobbying the Trump campaign team for the endorsement, he is pressuring the Republican Party of Louisiana and the Republican Executive Committees to support and endorse Letlow as well,” Fleming wrote on Facebook. “And, he is personally calling his donors to raise big money to save the Letlow campaign.

Landry formally endorsed Letlow for the U.S. Senate on March 4. Letlow also has the endorsement of President Donald Trump.

“We need a warrior who stands with the President to Make America Great. And there’s no greater warrior than a Louisiana mom,” Landry wrote on Facebook.

Fleming continued his commentary, asking when Landry will stop interfering with the state’s Senate race.

“Who is best to decide who represents you in Washington? Jeff Landry, or YOU?” Fleming asked.

Also in the heated race is incumbent Bill Cassidy, M.D.

Party primary elections in Louisiana are set for May 16, 2026.

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Louisiana

Louisiana Lottery Mega Millions, Pick 3 results for March 3, 2026

Published

1 day ago

March 4, 2026

Press Room

The Louisiana Lottery offers several draw games for those aiming to win big.

Here’s a look at March 3, 2026, results for each game:

Winning Mega Millions numbers from March 3 drawing

07-21-53-54-62, Mega Ball: 16

Check Mega Millions payouts and previous drawings here.

Winning Pick 3 numbers from March 3 drawing

6-8-3

Check Pick 3 payouts and previous drawings here.

Winning Pick 4 numbers from March 3 drawing

3-6-7-4

Check Pick 4 payouts and previous drawings here.

Winning Pick 5 numbers from March 3 drawing

0-8-3-2-0

Check Pick 5 payouts and previous drawings here.

Feeling lucky? Explore the latest lottery news & results

Are you a winner? Here’s how to claim your lottery prize

All Louisiana Lottery retailers will redeem prizes up to $600. For prizes over $600, winners can submit winning tickets through the mail or in person at Louisiana Lottery offices. Prizes of over $5,000 must be claimed at Lottery office.

By mail, follow these instructions:

Sign and complete the information on the back of your winning ticket, ensuring all barcodes are clearly visible (remove all scratch-off material from scratch-off tickets).
Photocopy the front and back of the ticket (except for Powerball and Mega Millions tickets, as photocopies are not accepted for these games).
Complete the Louisiana Lottery Prize Claim Form, including your telephone number and mailing address for prize check processing.
Photocopy your valid driver’s license or current picture identification.

Mail all of the above in a single envelope to:

Louisiana Lottery Headquarters

555 Laurel Street

Baton Rouge, LA 70801

To submit in person, visit Louisiana Lottery headquarters:

555 Laurel Street, Baton Rouge, LA 70801, (225) 297-2000.

Hours: 8 a.m. to 4:30 p.m., Monday through Friday. This office can cash prizes of any amount.

Check previous winning numbers and payouts at Louisiana Lottery.

When are the Louisiana Lottery drawings held?

Powerball: 9:59 p.m. CT Monday, Wednesday and Saturday.
Mega Millions: 10 p.m. CT Tuesday and Friday.
Pick 3, Pick 4 and Pick 5: Daily at 9:59 p.m. CT.
Easy 5: 9:59 p.m. CT Wednesday and Saturday.
Lotto: 9:59 p.m. CT Wednesday and Saturday.

This results page was generated automatically using information from TinBu and a template written and reviewed by a Louisiana editor. You can send feedback using this form.

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