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 (2.3). Excellent expense controls. Return on equity has been low, averaging -11.0%. Weak overall results on stability tests (0.0) including weak risk adjusted capital in prior years and excessive premium growth.
Other Rating Factors: High quality investment portfolio (8.1). Excellent liquidity (9.8).
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