Major Rating Factors: Good quality investment portfolio (5.6 on a scale of 0 to 10) despite significant exposure to mortgages . Mortgage default rate has been low. large holdings of BBB rated bonds in addition to small junk bond holdings. Fair overall results on stability tests (4.5). Strong capitalization (7.5) based on excellent risk adjusted capital (severe loss scenario).
Other Rating Factors: Excellent profitability (7.7). Excellent Liquidity (7.2).
Stability Factors: T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business: Ind annuities (91.4%), group annuities (6.1%), other (2.5%)
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