Major Rating Factors: Fair capitalization (3.1 on a scale of 0 to 10) based on fair risk adjusted capital (moderate loss scenario). Fair liquidity (3.7) as cash from operations and sale of marketable assets may not be adequate to cover a spike in claims or a run on policy withdrawals. Fair overall results on stability tests (3.1) including weak risk adjusted capital in prior years.
Other Rating Factors: Low quality investment portfolio (2.8). Weak profitability (2.0) with operating losses during the first six months of 2022.
Stability Factors: C - Past results on our Risk-Adjusted Capital tests. G - Fast asset or premium growth. I - Past results on our Investment Safety Index. L - Past results on our liquidity tests.
Principal Lines of Business: Group annuities (74.1%), ind annuities (25.8%)
Licensed in: All states except NY