Farmers Group Subsidiaries Acquired from AIG

Fitch Ratings downgraded to A+ from AA- the insurer financial strength (IFS) ratings of the group of personal lines insurers acquired by Farmers Group Inc. (FGI) from American International Group Inc. (AIG) and subsequently transferred from FGI to the Farmers Exchanges. Fitch also downgraded to BBB+ from A- the $100 million of senior unsecured notes issued by 21st Century Group that were also transferred to the Farmers Exchanges from FGI. Fitch removed all of these ratings from rating watch negative and assigned a negative rating outlook.

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