Louisiana
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.
“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.
Louisiana
Why did Marshall opt out of bowl game? Explaining Louisiana Tech’s Independence Bowl berth
Does Boise StateCFP first-round winners with the best shot at the semifinals | or Arizona State have a better CFP chance? | Before The Snap
Texas, Ohio State, Penn State or Notre Dame: Before The Snap looks at which College Football Playoff first-round winners could advance to the semis.
Army football is set to face Louisiana Tech in the Independence Bowl on Saturday night. It’s the second team the Black Knights have been slated to play this bowl season.
No. 18 Army (11-2) was originally slated to play Marshall after winning the American Athletic Conference, however, the Thundering Herd opted out of the bowl game, allowing for the Bulldogs (5-7) to reach the postseason despite not reaching the typical 6-win threshold.
Army, coming off a loss to arch-rival Navy, is looking to reach 12 wins for the first time in program history. Quarterback Bryson Daily, who finished sixth in Heisman Trophy voting, had one of the best seasons ever for the Black Knights, scoring 38 total touchdowns with a team-leading 1,532 rushing yards.
There are numerous reasons as to why Army won’t be taking on Marshall, who went 10-3 this season and won the Sun Belt championship.
Here’s an explanation of Army’s opponent in the Independence Bowl on Saturday:
Why is Army playing Louisiana Tech instead of Marshall?
Marshall backed out of the Independence Bowl in wake of coach Charles Huff leaving for the Southern Miss job, which resulted in numerous Thundering Herd players entering the transfer portal.
Marshall simply was left with hardly a roster and no head coach, resulting in the opt out.
Yahoo Sports’ Ross Dellenger reported Louisiana Tech was selected as the replacement due to its Academic Progress Rate despite not reaching the 6-win bowl eligibility threshold. Dellenger added multiple 5-win teams had better APR than Louisiana Tech, however, were unable to commit to the game based on the short turnaround of the matchup after Marshall’s opt out.
Why did Marshall opt out of bowl game?
Marshall opted out of the game due to having a substantial number of players enter the transfer portal following Huff’s departure to Southern Miss.
The Thundering Herd had over 25 players enter the transfer portal, including all three of their scholarship quarterbacks.
“It is unfortunate that Marshall determined they won’t be able to compete in the bowl in a couple of weeks,” Independence Bowl executive director Missy Setters said in a statement. “Our goal was to create the best matchup possible for our local fans and college football fans throughout the country, and we think we did that with two conference champions. Moving forward we are very excited to host Louisiana Tech and are thrilled we found an opponent for Army.”
According to On3’s transfer portal database, Marshall has lost 45 players to the transfer portal this offseason.
Why is Louisiana Tech in Independence Bowl?
Louisiana Tech was the replacement for Marshall, who opted out of the Independence Bowl due to losing a large group of players to the transfer portal.
Louisiana Tech was then selected due to its Academic Progress Rate, despite not having the highest among 5-win teams. The Bulldogs (5-7) didn’t reach the 6-win bowl threshold, but were picked since there were no 6-win teams left to choose from.
Louisiana Tech’s APR was also not the highest among 5-win teams, but was selected after multiple teams in front of it in the pecking order couldn’t commit to the game with the short turnaround after Marshall’s opt out.
Louisiana
Louisiana Tech vs. Army: Predictions, latest odds for Independence Bowl
From NFL to NCAA: The biggest sports controversies of 2024
Reporters from USA Today share what they think the biggest controversy in sports was in 2024.
Sports Seriously
The college football bowl action continues with the Radiance Technologies Independence Bowl featuring the Louisiana Tech Bulldogs facing off against the Army Black Knights.
Stepping in to replace Marshall after it pulled out due to outside factors, Louisiana Tech has shown remarkable resilience. Despite a tough season, finishing 5-7 and fifth in Conference USA, the Bulldogs have not backed down. They are led by freshman quarterback Evan Bullock, who boasted a 67.4% completion rate for 1,938 yards, 14 touchdowns, and only two interceptions. Bullock has a strong target in wide receiver Tru Edwards, who led CUSA in receptions (77) and recorded 897 receiving yards with six touchdowns.
Louisiana Tech is set to face a challenging opponent in Army, which recently made history by winning its first AAC championship game. This marks a significant milestone in the program’s 134-year history after an impressive 11-2 season. The Black Knights are guided by senior quarterback Bryson Daily, who is a formidable presence both on the ground and through the air. Last season, Daily passed for 942 yards and nine touchdowns, while also throwing four interceptions. Additionally, he rushed for an impressive 1,532 yards, scoring a remarkable 29 touchdowns.
Here’s everything you need to know ahead of the Independence Bowl.
Independence Bowl predictions: Louisiana Tech vs. Army
USA TODAY Sports: Army is unanimous pick
- Scooby Axson: Army
- Jordan Mendoza: Army
- Paul Myerberg: Army
- Erick Smith: Army
- Eddie Timanus: Army
- Dan Wolken: Army
ESPN: Army 23, Louisiana Tech 16
Adam Rittenberg writes: “The Independence Bowl has a new participant and a different/more local flavor, as Marshall opted out following its coaching change and portal exodus, and Louisiana Tech stepped in as the replacement, and will make the short drive from Ruston to Shreveport. The Bulldogs have half the number of wins as the Thundering Herd, but their defense can be very stingy at times, and will need to perform against Bryson Daily and the Black Knights. Although Louisiana Tech coach Sonny Cumbie said, “The band’s back together,” the Bulldogs will be without several defensive linemen who went into the transfer portal. Army is undoubtedly still smarting from the Navy loss, and top running back Kanye Udoh entered the portal. Louisiana Tech jumps ahead early behind quarterback Evan Bullock, but Army eventually takes control and grinds out a low-scoring win, its 12th on the season.”
College Football Network: Army 35, Louisiana Tech 13
James Fragoza writes: “The Black Knights’ 2024 campaign has been one for the books, highlighted by their physical dominance and a well-executed option attack. While a 49-14 rout at the hands of playoff-bound Notre Dame and a 31-13 upset loss to Navy stand out as blemishes, they’re hardly disqualifying. Navy, after all, is a nine-win squad with an efficient offense – a far cry from what Louisiana Tech brings to the table. The Black Knights, even after failing to cover as double-digit favorites in their last two outings, still present a clear mismatch for a Bulldogs team that managed just one win over an FBS opponent with a winning record this year. For Louisiana Tech, this matchup feels less like an opportunity and more like a buzzsaw, especially due to its transfer portal losses.”
Tickets to the Independence Bowl with StubHub
Independence Bowl odds, lines: Louisiana Tech vs. Army
The Army Black Knights are favorites to defeat the Louisiana Tech Bulldogs, according to the BetMGM college football odds.
Odds as of Friday, Dec. 27.
- Spread: Army (-14)
- Moneylines: Army (-800); Louisiana Tech (+500)
- Over/under: 44.5
How to watch Louisiana Tech vs. Army in the Independence Bowl
- Date: Saturday, Dec. 28
- Time: 9:15 p.m. ET
- TV: ESPN
- Stream: Fubo
- Where: Independence Stadium (Shreveport, Louisiana)
We occasionally recommend interesting products and services. If you make a purchase by clicking one of the links, we may earn an affiliate fee. USA TODAY Network newsrooms operate independently, and this doesn’t influence our coverage.
Louisiana
Miss Louisiana 2024 heads to Miss America 2025
MONROE, La. (KNOE) – Miss Louisiana flew out from the Monroe Regional Airport to the Miss America competition in Orlando, Florida on Friday, Dec. 27.
Louisiana Tech University student and Texas native, Olivia Grace George will be competing against 50 other titleholders for the Miss America crown.
Before competing for Miss Louisiana in June 2024, she was 2023’s Miss Louisiana Watermelon Festival.
George said this coming week will be busy and fun-filled with lots of events on the schedule.
“I’m excited for the competition, but I’m just excited for the overall journey ahead,” said George.
During the Miss America competition, George will be performing a jazz dance routine for her talent.
George’s community service initiative is called “Education is Key – Knowledge Empowers Youth”.
“I hope to share with students the importance of education and how our education is a key that can unlock many wonderful doors,” said George.
George said she hopes to learn from the experience of Miss America.
“I hope to bring back that love and that gratitude and appreciation, and share it with the state of Louisiana and continue to support and love the state of Louisiana to the best of my ability,” said George.
George said no matter the outcome of the competition, she is grateful for the experience.
“Ever since I was a little girl, I’ve always wanted to go to Miss America, and so now that it’s actually happening, it’s just so surreal and incredible,” said George.
The Miss America preliminary competition takes place on Wednesday, Jan. 1, 2025 at 7 p.m.
The finals portion of the competition will air on Sunday, Jan. 5, 2025 at 7 p.m.
Click here for more information on where to access the live stream.
WATCH: KNOE Latest Video
Copyright 2024 KNOE. All rights reserved.
-
Technology1 week ago
Google’s counteroffer to the government trying to break it up is unbundling Android apps
-
News1 week ago
Novo Nordisk shares tumble as weight-loss drug trial data disappoints
-
Politics1 week ago
Illegal immigrant sexually abused child in the U.S. after being removed from the country five times
-
Entertainment1 week ago
'It's a little holiday gift': Inside the Weeknd's free Santa Monica show for his biggest fans
-
Lifestyle1 week ago
Think you can't dance? Get up and try these tips in our comic. We dare you!
-
Technology4 days ago
There’s a reason Metaphor: ReFantanzio’s battle music sounds as cool as it does
-
News5 days ago
France’s new premier selects Eric Lombard as finance minister
-
Business3 days ago
On a quest for global domination, Chinese EV makers are upending Thailand's auto industry