Major Rating Factors:
Weak profitability (2.7 on a scale of 0 to 10) with investment income below regulatory standards in relation to interest assumptions of reserves. Weak overall results on stability tests (0.4) including negative cash flow from operations for 2022. Strong capitalization (3.0) based on excellent risk adjusted capital (severe loss scenario).
Other Rating Factors:
Good quality investment portfolio (5.7). Excellent Liquidity (7.0).
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
F - Negative cash flow.
I - Past results on our Investment Safety Index.
Principal Lines of Business:
Group life (10.5%), credit life (10.1%), credit health (3.7%), other (75.7%)
Licensed in:
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Investments
Invested Assets
Cash
CMO & Structured Securities
Other Investment Grade Bonds
Non-Investment Grade Bonds
Common & Preferred Stock
Mortgages in Good Standing
Non-Performing Mortgages
Real Estate
Other Investments
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Investments in Affiliates
Corporate Info
Group Affiliation
None
Investment Rating
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Company Address
500 Woodward Avenue Suite 4000
Spring Lake, MI 49456
Spring Lake, MI 49456
Phone Number
(517) 507-3934
NAIC Number
93777
Website
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Largest Affiliates
No affiliate information available.
