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 profitability (1.7) with operating losses during the first six months of 2021. Weak overall results on stability tests (0.0) including weak risk adjusted capital in prior years, negative cash flow from operations for 2020.
Other Rating Factors: High quality investment portfolio (8.1). Excellent liquidity (9.9).
Stability Factors: C - Past results on our Risk-Adjusted Capital tests. F - Negative cash flow. T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business: Ind annuities (48.8%), group annuities (20.3%), other (31.0%)
Licensed in: All states except NH, NY, PR