Major Rating Factors:
Fair overall results on stability tests (4.2 on a scale of 0 to 10) including excessive premium growth. Good quality investment portfolio (5.0) despite large holdings of BBB rated bonds in addition to moderate junk bond exposure. Exposure to mortgages is significant, but the mortgage default rate has been low. Good Liquidity (5.3) with sufficient resources to handle a spike in claims as well as a significant increase in policy surrenders.
Other Rating Factors:
Weak profitability (2.6). Strong capitalization (7.8) 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.
Principal Lines of Business:
Ind annuities (53.4%), group annuities (13.4%), other (33.2%)
Licensed in:
All states except NY, PR