Oxford Life Insurance Company's Rating Upgraded to "A" by A.M. Best

Rhea-AI Summary

AMERCO (Nasdaq: UHAL) announced an upgrade of the Financial Strength Rating to A (Excellent) and the Issuer Credit Rating of 'a' (Excellent) for its subsidiary, Oxford Life Insurance Company, by A.M. Best. This upgrade signifies the strong credit quality and business profile of Oxford Life. Mark A. Haydukovich, President of Oxford Life, attributed this success to their focus on affordable insurance solutions and maintaining fiscal discipline. Oxford Life aims to meet the needs of the growing senior market through innovative initiatives and distribution enhancements.

Positive

• Financial Strength Rating upgraded to A (Excellent) by A.M. Best.
• Issuer Credit Rating upgraded to 'a' (Excellent) reflecting strong credit quality.
• Focus on affordable insurance solutions enhances customer satisfaction.
• Investment in technology supports profitable growth and process automation.

Negative

• None.

News Market Reaction – UHAL

-0.15%

-0.15% Session move

In the trading session that priced this news, UHAL declined 0.15%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

RENO, Nev., July 30, 2021 /PRNewswire/ -- AMERCO (Nasdaq: UHAL) announced today that A.M. Best, the world's oldest and most authoritative insurance rating and information source, has upgraded the Financial Strength Rating to A (Excellent) and the Issuer Credit Rating of "a" (Excellent) of its subsidiary Oxford Life Insurance Company (Oxford Life). These ratings also apply to Oxford Life's subsidiary, Christian Fidelity Life Insurance Company.

"This rating upgrade affirms the high credit quality and business profile of Oxford Life," stated Mark A. Haydukovich, President of Oxford Life. "The upgrade reflects our team's continued emphasis on providing affordable insurance solutions that meet our customer's needs, working with our valued distribution partners, and maintaining operating and fiscal discipline."

Oxford Life and its subsidiaries provide products and services that promote the financial security of the rapidly growing senior market. The group has invested substantially in innovative initiatives that have allowed for accelerated underwriting, distribution support and monitoring, and other technology platforms that enhance process automation. This strategy has prepared Oxford Life for continued profitable growth as it continues to add distribution sources.

Founded in 1965, Oxford Life and its subsidiaries specialize in providing annuity, life and Medicare supplement products designed to meet the needs of the senior market through independent marketing organizations and general agents.

View original content:https://www.prnewswire.com/news-releases/oxford-life-insurance-companys-rating-upgraded-to-a-by-am-best-301344895.html

SOURCE AMERCO

FAQ

What rating was upgraded for AMERCO's subsidiary Oxford Life Insurance Company?

A.M. Best upgraded the Financial Strength Rating to A (Excellent) and the Issuer Credit Rating to 'a' (Excellent) for Oxford Life Insurance Company.

When was the rating upgrade for Oxford Life Insurance Company announced?

The rating upgrade was announced on July 30, 2021.

What does the upgrade in rating signify for AMERCO's stock UHAL?

The upgrade signifies strong credit quality and a positive business profile for Oxford Life, which may enhance investor confidence in AMERCO (UHAL).

Who is the president of Oxford Life Insurance Company?

Mark A. Haydukovich is the president of Oxford Life Insurance Company.

What market does Oxford Life primarily serve?

Oxford Life primarily serves the rapidly growing senior market with insurance products.