Major Rating Factors: Poor current capitalization (0.0 on a scale of 0 to 10) based on excessive policy leverage and weak risk adjusted capital (severe loss scenario), although results have slipped from the excellent range over the last two years. Low quality investment portfolio (1.6). Weak profitability (0.7) with investment income below regulatory standards in relation to interest assumptions of reserves.
Other Rating Factors: Weak overall results on stability tests (0.0) including weak risk diversification. Excellent liquidity (8.6).
Stability Factors: C - Past results on our Risk-Adjusted Capital tests. D - Limited diversification of general business, policy, and/or investment risk. G - Fast asset or premium growth. T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business: Ind annuities (100.0%)
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