INSURANCE
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From Times Staff and Wire Reports
Farmers, 20th Century Downgraded: A.M. Best Co. downgraded its ratings of Farmers Insurance Group and 20th Century Industries’ two insurance units, citing significant losses from the Jan. 17 Northridge earthquake. Best dropped Farmers’ rating to A- from A and, as expected, lowered 20th Century’s ratings to B+ from A-. The new ratings for the two firms are within the range that Best calls “financially secure.”
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