Major Rating Factors:
Poor current capitalization (2.8 on a scale of 0 to 10) based on weak risk adjusted capital (moderate loss scenario), although results have slipped from the fair range over the last year. Low quality investment portfolio (2.1) containing substantial holdings of BBB bonds in addition to junk bond exposure equal to 54% of capital. Exposure to mortgages is large, but the mortgage default rate has been low. Weak overall results on stability tests (2.8) including weak risk adjusted capital in prior years.
Other Rating Factors:
Excellent profitability (8.0) despite modest operating losses during 2020 and 2021. Excellent Liquidity (7.9).
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.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Ind annuities (100.0%)
Licensed in:
All states except NY, VT, PR
Investments
Invested Assets
Cash
CMO & Structured Securities
Other Investment Grade Bonds
Non-Investment Grade Bonds
Common & Preferred Stock
Mortgages in Good Standing
Non-Performing Mortgages
Real Estate
Other Investments
Investments in Affiliates
Corporate Info
Group Affiliation
Penn Mutual Life Ins Company
Investment Rating
--
Company Address
16479 Dallas Parkway Suite 850
DENVER, CO 80202
DENVER, CO 80202
Phone Number
(888) 295-3815
NAIC Number
68446
Website
Largest Affiliates