Major Rating Factors:
Good quality investment portfolio (5.1 on a scale of 0 to 10) despite substantial holdings of BBB bonds in addition to moderate junk bond exposure. Exposure to mortgages is large, but the mortgage default rate has been low. Good overall profitability (5.3) despite operating losses during 2022. Return on equity has been fair, averaging 7.9%. Good Liquidity (6.1).
Other Rating Factors:
Good overall results on stability tests (6.5) excellent operational trends and excellent risk diversification. Strong capitalization (7.1) based on excellent risk adjusted capital (severe loss scenario).
Stability Factors:
A - Financial problems or weaknesses of a parent or affiliate company.
I - Past results on our Investment Safety Index.
Principal Lines of Business:
Group annuities (59.3%), group health (22.0%), ind annuities (13.3%), ind health (3.3%), group life (2.1%)
Licensed in:
All states except NY