AM Best Affirms Credit Ratings of Globe Life Inc. and its Subsidiaries
The ratings reflect Globe Life’s balance sheet strength, which AM Best assesses as strong, as well as its very strong operating performance, favorable business profile and appropriate enterprise risk management (ERM).
Globe Life’s risk-based capital is assessed within the strong category, as measured by Best’s Capital Adequacy Ratio (BCAR), which is an improvement from the prior year’s capital assessment and is supportive of its balance sheet strength assessment. On a statutory basis, year-end capital & surplus increased, but was hampered by continued dividend payments to the parent company,
The FSR of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) have been affirmed with stable outlooks for the following life/health subsidiaries of
-
American Income Life Insurance Company -
Globe Life and Accident Insurance Company -
Liberty National Life Insurance Company -
United American Insurance Company -
Globe Life Insurance Company of New York -
National Income Life Insurance Company -
Family Heritage Life Insurance Company of America
The following Short-Term IR has been affirmed:
— AMB-1 (Outstanding) on commercial paper
The following Long-Term IR’s have been affirmed with stable outlooks:
— “bbb+” (Good) on
— “bbb+” (Good) on
— “bbb+” (Good) on
— “bbb+” (Good) on
— “bbb-” (Good) on
The following indicative Long-Term IRs available under the shelf registration have been affirmed with stable outlooks:
— “bbb+” (Good) on senior unsecured debt
— “bbb” (Good) on subordinated debt
— “bbb-” (Good) on preferred stock
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
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Source: AM Best