The MarketWatch News Department was not involved in the creation of this content. AM Best has downgraded the Financial Strength Rating to A (Excellent) from A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “a+” from “aa-” of Jackson National Life Insurance Company (JNL), its wholly owned subsidiary, Jackson National Life Insurance Company of New York, and its direct parent, Brooke Life Insurance Company. These companies collectively are referred to as the Jackson National Group (JNG). Additionally, AM Best has downgraded the Long-Term Issue Credit Ratings (Long-Term IR) to “a+” from “aa-” on the notes issued under JNL’s funding agreement-backed securities programs...
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Genworth Financial In May 2004, Genworth Financial was formed out of various insurance businesses of General Electric in the largest IPO of that year. Genworth Financial is incorporated in Virginia. Genworth Financial has three segments: Retirement & Protection, US Mortgage Insurance, and International. Products and services include life and long-term care insurance, mortgage insurance, and annuities. Company history [ edit ] A.G. McIlwaine was the company’s first president. Begun by two dozen Petersburg investors, the Life Insurance Company of Virginia offered its first policies to local customers before expanding to Richmond, Virginia. Under general agent F.W. Chamberlayne, the...
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AM Best has affirmed the Financial Strength Ratings of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "a+" of Old United Casualty Company (OUC) and Old United Life Insurance Company (OUL). The outlook of these Credit Ratings (ratings) is stable. Both companies are headquartered in Merriam, KS. The ratings of OUC reflect its balance sheet strength, which AM Best categorizes as strongest, as well as its strong operating performance, limited business profile and appropriate enterprise risk management (ERM). OUC’s balance sheet strength assessment is driven by its risk-adjusted capitalization being at the strongest level, as measured by Best’s Capital Adequacy Ratio (...
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February 21, 2020 11:28 AM Central Standard Time, Oldwick, N.J.--( BUSINESS WIRE )--AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb+” of Guaranty Income Life Insurance Company (GILIC) (Cedar Rapids, IA). The outlook assigned to these Credit Ratings (ratings) is stable. The ratings of GILIC reflect its balance sheet strength, which AM Best categorizes as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. The balance sheet assessment is supported by the company’s strong risk-adjusted...
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AM Best Affirms Credit Ratings of Lumico Life Insurance Company and Its Affiliate AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "a+" of Lumico Life Insurance Company (Jefferson City, MO) and Lumico Life Insurance Company of New York (Armonk, NY). The outlook of these Credit Ratings (ratings) is stable. Together, these two companies are referred to as Lumico Life, and are indirect subsidiaries of Swiss Re Ltd (Swiss Re). Lumico Life Insurance Company was acquired through Swiss Re's new iptiQ Americas Inc. unit at the end of 2016. Lumico Life Insurance Company of New York was established and licensed in...
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Current insurer financial strength ratings for Cigna subsidiaries: Standard & Poor's – rating for Connecticut General Life Insurance Company (CGLIC) and Cigna Health and Life Insurance Company (CHLIC) is "A". Life Insurance Company of North America (LINA) is not rated by S&P. Current ratings on Cigna Corporation's (formerly Halfmoon Parent, Inc.) senior unsecured debt: Current ratings on Cigna Holding Company's (formerly Cigna Corporation) senior unsecured debt: Current ratings on Express Scripts Holding Company’s senior unsecured debt: Financial strength and credit ratings represent the opinions of the rating agencies with respect to the financial ability to meet claim...
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CMFG Life Insurance Company Financial Strength Affirmed Jim Buchheim 608.232.6327 jim.buchheim@cunamutual.com Rick Uhlmann 608.231.8940 rick.uhlmann@cunamutual.com A.M. Best Cites Company’s Solid Capital, Financial Performance in Listing Outlook at Stable MADISON, Wis. — Financial ratings agency A.M. Best has affirmed CMFG Life Insurance Company’s financial strength rating at “A” (Excellent) and continues to list the company’s outlook as stable. The “A” rating applies to CMFG Life Insurance Company, formerly called CUNA Mutual Insurance Society, before the company restructured to a Mutual Holding Company on Jan. 31. The “A” rating is the third highest rating of 16 categories of...
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Since 1851, MassMutual has provided financial security and enduring value to our policyowners. We continue to be a mutual life insurance company that operates primarily for the benefit of these policyowners and one of the largest financial services firms in the United States. Our business model has allowed us to deliver superior results while maintaining financial strength ratings that are among the highest in our industry. We have weathered two world wars, the Great Depression, the 2008 financial crisis, and numerous other events that impacted the U.S. financial system. We continue to have exceptional financial strength. The following summarizes some key measures of the financial strength...
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CHICAGO, Jan. 11, 2019 / PRNewswire / -- AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) for Combined Insurance Company of America (headquartered in Chicago, IL ) and Combined Life Insurance Company of New York ( Latham, NY ) in a recent press announcement, affirming the credit ratings of Chubb Limited and its subsidiaries. Combined Insurance is a leading provider of individual supplemental accident, disability, health, and life insurance products. "Combined Insurance is pleased to receive this 'Superior' rating affirmation," said Kevin Goulding, President of Combined Insurance. "As a Chubb Group company, we take great responsibility in meeting the needs of our...
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AM Best Assigns Issue Credit Rating to Massachusetts Mutual Life Insurance Company's Surplus Notes AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of "aa-" to the recently issued $700 million 3.375% surplus notes, due 2050, issued by Massachusetts Mutual Life Insurance Company (MassMutual) (Springfield, MA). The outlook assigned to the Credit Rating (rating) is stable. All other Long-Term IRs of MassMutual and its subsidiaries are unchanged. MassMutual's financial leverage and interest coverage ratios are within AM Best guidelines for its ratings. The interest rate for the issued surplus notes is 3.375%, and the proceeds will be used for general corporate purposes. AM...
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