Major Rating Factors:
Weak overall results on stability tests (1.3 on a scale of 0 to 10) including negative cash flow from operations for 2022. Fair profitability (4.7) with investment income below regulatory standards in relation to interest assumptions of reserves. Fair Liquidity (3.8) 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.
Other Rating Factors:
Good capitalization (5.6) based on good risk adjusted capital (moderate loss scenario). Good quality investment portfolio (5.0).
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
F - Negative cash flow.
I - Past results on our Investment Safety Index.
L - Past results on our liquidity tests.
Principal Lines of Business:
Ind annuities (8.9%), group life (0.4%), other (90.7%)
Licensed in:
All states, the District of Columbia and Puerto Rico