Major Rating Factors: Poor overall capitalization (0.0 on a scale of 0 to 10) based on excessive policy leverage and weak risk adjusted capital (severe loss scenario). Weak overall results on stability tests (0.0) including weak results on operational trends, weak policy risk diversification. Fair profitability (4.8). Excellent expense controls. Return on equity has been low, averaging -3.1%.
Other Rating Factors: Good quality investment portfolio (6.4). Excellent liquidity (10.0).
Stability Factors: C - Past results on our Risk-Adjusted Capital tests. T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business: Group annuities (39.9%), other (60.1%)
Licensed in: DE, SD, TX