Major Rating Factors: Good quality investment portfolio (6.3 on a scale of 0 to 10) despite mixed results such as: no exposure to mortgages and large holdings of BBB rated bonds but minimal holdings in junk bonds. Good overall profitability (5.8). Excellent expense controls. Return on equity has been low, averaging 3.5%. Good overall results on stability tests (5.0) good operational trends, good risk adjusted capital for prior years and excellent risk diversification.
Other Rating Factors: Fair liquidity (3.0). Strong capitalization (7.4) based on excellent risk adjusted capital (severe loss scenario).
Stability Factors: I - Past results on our Investment Safety Index. L - Past results on our liquidity tests.
Principal Lines of Business: Ind annuities (62.5%), group life (6.5%), other (31.0%)
Licensed in: All states except PR