Term life insurance ratings ↝ Life insurance

AM Best affirms stability of Co-operative Life s ratings, Insurance Business

AM Best has affirmed the financial strength rating of B++ (good) and the long-term issuer credit rating of “bbb+” of New Zealand-based insurer Co-operative Life Limited (Co-op Life), with a stable outlook for both ratings. According to a news release by the international ratings agency, the ratings reflect Co-op Life’s adequate balance sheet strength, as well as its strong operating performance, limited business profile and appropriate enterprise risk management. The ratings also factor in a neutral impact from the company’s ultimate ownership by The Co-operative Bank Limited. Co-op Life is one of the smaller life insurers in New Zealand, with less than 1% market...

AM Best Affirms Credit Ratings for Members of Pekin Insurance Group; Affirms Credit Ratings of Pekin Life Insurance Company, Benzinga

AM Best Affirms Credit Ratings for Members of Pekin Insurance Group; Affirms Credit Ratings of Pekin Life Insurance Company 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 The Farmers Automobile Insurance Association and its wholly owned subsidiary, Pekin Insurance Company (together known as Pekin). AM Best also has affirmed the FSR of A- (Excellent) and the Long-Term ICR of "a-" of Pekin Life Insurance Company (Pekin Life). The outlook of these Credit ratings (ratings) is stable. All companies are domiciled in Pekin, IL. Pekin Life is a publicly traded, over-the-counter company, although the...

AM Best Affirms Credit Ratings for Members of Pekin Insurance Group; Affirms Credit Ratings of Pekin Life Insurance Company

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 The Farmers Automobile Insurance Association and its wholly owned subsidiary, Pekin Insurance Company (together known as Pekin). AM Best also has affirmed the FSR of A- (Excellent) and the Long-Term ICR of "a-" of Pekin Life Insurance Company (Pekin Life). The outlook of these Credit ratings (ratings) is stable. All companies are domiciled in Pekin, IL. Pekin Life is a publicly traded, over-the-counter company, although the majority of its shares are owned by The Farmers Automobile Insurance Association. The ratings of Pekin reflect its balance sheet...

AM Best Affirms Credit Ratings of Kansas City Life Insurance Company and Its Subsidiaries

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of "a" of Kansas City Life Insurance Company (Kansas City Life). Concurrently, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICR of "a-" of Grange Life Insurance Company (Grange Life) (Columbus, OH). The outlook of these Credit Ratings (ratings) is negative. In addition, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICR of "a-" of Sunset Life Insurance Company of America (Sunset Life), as well as Kansas City Life’s final expense life insurance subsidiary, Old American Insurance Company (Old American). The outlook of these...

AM Best Assigns Credit Ratings to Upstream Life Insurance Company

AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of "bbb+" to Upstream Life Insurance Company (Upstream) (Dallas, TX). The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect Upstream’s balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM). As a new company formation, AM Best requires a level of conservatism to be built into initial capital levels, and the very strong balance sheet assessment is based on Upstream’s current risk-adjusted capital level that provides support during...

Pandemic forces life insurers to embrace digitization, transform business, S&P Global Market Intelligence

latest-news-headlines Market Intelligence /marketintelligence/en/news-insights/latest-news-headlines/pandemic-forces-life-insurers-to-embrace-digitization-transform-business-58908784 content Pandemic forces life insurers to embrace digitization, transform business The life insurance industry is making serious changes to how it does business in a way that some executives say may not have happened without the conditions caused by the COVID-19 pandemic. During S...

AM Best Affirms Credit Ratings of Subsidiaries of Old Republic International Corporation

AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of "aa-" of members of Old Republic Insurance Companies (Old Republic). (See below for a detailed list of companies.) Concurrently, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICR of "a+" of Old Republic Insurance Company of Canada (Old Republic Canada) (Hamilton, Ontario). At the same time, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICRs of "a+" of Old Republic National Title Insurance Company (Tampa, FL) and American Guaranty Title Insurance Company (Oklahoma City, OK) (collectively referred to as Old Republic Title...

Fitch affirms, removes PartnerRe from Rating Watch Positive - Reinsurance News

Fitch affirms, removes PartnerRe from Rating Watch Positive Fitch Ratings has affirmed and removed PartnerRe’s ratings from Rating Watch Positive, including its ‘A-‘ Issuer Default Rating and the ‘A+’ (Strong) Insurer Financial Strength rating of its principal reinsurance operating subsidiary. The Rating Outlook is Negative. Fitch says the Rating Watch Positive reflected the potential for ownership by Covea, a larger property/casualty, health and life insurance business. Fitch views EXOR’s ownership as neutral to PartnerRe’s ratings. PartnerRe’s first quarter results included a modest $18 million in pre-tax losses from event cancellation claims associated with...

AM Best Affirms Credit Ratings of Trustmark Group, Inc. and Its Subsidiaries

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "a-" of Trustmark Insurance Company (Lake Forest, IL) and Trustmark Life Insurance Company of New York (Albany, NY) (collectively referred to as Trustmark Group), as well as Trustmark Life Insurance Company (Lake Forest, IL). Concurrently, AM Best has affirmed the Long-Term ICR of "bbb-" of the holding company, Trustmark Group, Inc. (TGI) (Lake Forest, IL), and the Long-Term Issue Credit Rating of "bb" on $75 million floating rate trust preferred securities ($39 million outstanding), due 2035, issued by Trustmark Finance Trust I. The outlook of these Credit Ratings...

Consumer Reports: What Insurers Need to Know, Federal Trade Commission

Consumer Reports: What Insurers Need to Know If you use consumer reports to underwrite insurance policies or screen high-risk applicants, you must comply with the Fair Credit Reporting Act (FCRA). The FCRA is designed to protect the privacy of consumer report information — sometimes informally called “credit reports” — and to guarantee that information supplied by consumer reporting agencies (CRAs) is as accurate as possible. Consumer reports may include information about a person’s credit history, medical conditions, driving record, criminal activity, and even their participation in dangerous sports. Insurer Obligations You must have a permissible purpose before obtaining a consumer...