Fitch affirms State Farm

Fitch Ratings said it affirmed its AA+ insurer financial strength ratings on State Farm Mutual Automobile Insurance Co., State Farm Life Insurance Co. and State Farm Life and Accident Assurance Co.

The outlook is stable.

According to Fitch, State Farm's ratings continue to be supported by its highly productive career agency distribution force, strong capital position and diversification provided by its life insurance operations and national scope.

Weaknesses include a history of below industry average operating results in both property/casualty and life insurance as well as the risks associated with a large investment allocation to equity securities in the property casualty business, the agency noted.

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