Major Rating Factors:
Good Liquidity (5.9 on a scale of 0 to 10) with sufficient resources to handle a spike in claims as well as a significant increase in policy surrenders. Fair quality investment portfolio (4.6) with large holdings of BBB rated bonds in addition to junk bond exposure equal to 88% of capital. Exposure to mortgages is large, but the mortgage default rate has been low. Fair overall results on stability tests (4.7).
Other Rating Factors:
Weak profitability (2.6) with operating losses during 2022. Strong capitalization (7.1) based on excellent risk adjusted capital (severe loss scenario).
Stability Factors:
G - Fast asset or premium growth.
I - Past results on our Investment Safety Index.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Ind annuities (53.1%), group health (23.0%), group life (3.3%), other (20.7%)
Licensed in:
All states except CT, FL, NJ, NY, PR