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Insurance ratings actions, Jan. 25

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Insurance ratings actions, Jan. 25

S&P Global Market Intelligence compiles ratings actions in the insurance space daily through 5:30 p.m. ET. Actions after 5:30 p.m. ET will be included in the following day's roundup.

Life and health

A.M. Best affirmed the financial strength rating of A+ and the long-term issuer credit ratings of "aa-" of Principal Life Insurance Co. and Principal National Life Insurance Co.

Concurrently, A.M. Best affirmed the long-term issuer credit rating of of "a-" of Principal Financial Group Inc.

The outlook of the ratings is stable.

A.M. Best said the rating affirmations of the two units reflect the continued solid risk-adjusted capitalization of the organization and their well-managed balance sheet, strong business profile, reflecting diverse products and distribution channels, and the company's consistently favorable operating results.

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A.M. Best assigned a financial strength rating of B+ and a long-term issuer credit rating of "bbb-" to Enterprise Life Insurance Co. with a positive outlook.

Concurrently, A.M. Best affirmed the financial strength rating of B+ and the long-term issuer credit rating of "bbb-" for Freedom Life Insurance Co. of America and National Foundation Life Insurance Co. The outlook of the ratings remains positive. The companies are collectively referred to as USHEALTH Group.

The ratings of Enterprise Life Insurance reflect the company's adequate risk-adjusted capitalization, significant capital and premium growth, and its strategic importance to USHEALTH Group.

The ratings of Freedom Life and National Foundation reflect good risk-adjusted capitalization, consistently positive underwriting and operating results, and robust profitable growth in the targeted Patient Protection and Affordable Care Act-exempt medical products segment, according to the rating agency.

The positive outlooks reflect A.M. Best's opinion that the USHEALTH Group is well-positioned to achieve and support future profitable growth.

P&C

A.M. Best revised the outlooks to positive from stable and affirmed the financial strength rating of B++ and the long-term issuer credit rating of "bbb+" of Eastern Dentists Insurance Co. RRG.

The company's ratings reflect its strong balance sheet, profitable earnings performance, comprehensive enterprise risk management program, and a management team highly experienced and focused in underwriting medical professional liability coverage for dentists, A.M. Best said.

The positive ratings outlooks are based on A.M. Best's anticipation that the company will continue to strengthen its balance sheet while producing better-than-average return measures despite the challenges that it faces.

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A.M. Best affirmed the financial strength rating of B++ and the long-term issuer credit rating of "bbb" of Coliseum Reinsurance Co.

The outlook of the ratings remains stable.

Concurrently, A.M. Best has withdrawn the ratings at the company's request to no longer participate in A.M. Best's interactive rating process.

The ratings reflect the company's supportive balance sheet strength, historically positive operating cash flows and the implied benefits and support as an affiliate of AXA SA, according to the rating agency. A.M. Best believes that these rating factors are reflective of Coliseum Reinsurance's strong risk-adjusted capitalization, its ability to manage effectively its run-off liabilities and its role within the AXA organization.