OLDWICK, N.J.--( BUSINESS WIRE )--A.M. Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” of Zale Life Insurance Company (Zale Life) (Phoenix, AZ). The outlook of these Credit Ratings (ratings) is stable. Concurrently, A.M. Best has withdrawn the ratings as the company has requested to no longer participate in A.M. Best’s interactive rating process. Life insurance ratings.
The ratings reflect Zale Life’s balance sheet strength, which A.M. Best categorizes as very strong, as well as its marginal operating performance, very limited business profile and appropriate enterprise risk management.
Zale Life’s ratings also reflect its solid level of risk-adjusted capitalization, strong liquidity and the high credit quality of its investment portfolio. Offsetting rating factors include a very limited business profile and the immaterial levels of net premiums due to high utilization of an offshore reinsurance affiliate. Zale Life has discontinued writing its credit insurance products, which dramatically diminishes its future business and long-term profitability prospects.
20 year term life
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