Major Rating Factors:
Weak overall results on stability tests (2.8 on a scale of 0 to 10) including potential financial drain due to affiliation with FGL Holdings. Weak profitability (1.9) with operating losses during 2022. Return on equity has been low, averaging -3.7%. Fair quality investment portfolio (3.8).
Other Rating Factors:
Good Liquidity (6.2). Strong capitalization (7.6) based on excellent risk adjusted capital (severe loss scenario).
Stability Factors:
A - Financial problems or weaknesses of a parent or affiliate company.
I - Past results on our Investment Safety Index.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Group annuities (76.8%), ind annuities (21.5%), other (1.7%)
Licensed in:
NY