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Insurance ratings actions, June 8

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Insurance ratings actions, June 8

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 assigned a financial strength rating of A and a long-term issuer credit rating of "a" to Leaders Life Insurance Co., a life insurance affiliate of Farm Bureau Life Insurance Co. of Michigan.

The outlook assigned to these ratings is stable.

The initial ratings primarily reflect the explicit and implicit support provided to Leaders Life Insurance by Farm Bureau Life Insurance Co. of Michigan. The support includes an unconditional and absolute guarantee of all obligations past and present, the rating agency said.

A.M. Best believes that Leaders Life Insurance should benefit from access to the strong capital position of Farm Bureau Life Insurance.

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A.M. Best affirmed the financial strength ratings of A- and the long-term issuer credit ratings of "a-" of Delaware Life Insurance Co. and Delaware Life Insurance Co. of New York.

The outlook is stable.

The ratings reflect the companies' strong level of risk-adjusted capitalization, generally positive operating earnings trends and improving business profile, A.M. Best said.

The group's business profile is improving, and the ratings recognize an effective enterprise risk management program and an internal capital support agreement by the company's capital partners if risk-adjusted capitalization falls below certain prescribed levels.

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A.M. Best affirmed the financial strength ratings of A++ and the long-term issuer credit ratings of "aaa" of Teachers Insurance & Annuity Association of America and its insurance subsidiary, TIAA-CREF Life Insurance Co.

The outlook is stable.

A.M. Best said the affirmations reflect the companies' strong risk-adjusted capitalization and their market-leading position in the higher education and not-for-profit pension marketplaces.

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Fitch Ratings affirmed the A insurer financial strength rating of RGA Reinsurance Co.

The rating agency also affirmed Reinsurance Group of America Inc.'s long-term issuer default rating at BBB+ and its senior debt ratings at BBB.

The rating outlook is stable.

The affirmations recognize that RGA Reinsurance continues to maintain its strong business profile as the largest provider of individual and group life reinsurance in North America, Fitch said.

The ratings, which consider the company's relatively high financial and operating leverage, reflect RGA Reinsurance's excellent long-term financial performance and earnings, strong risk-adjusted capitalization and strong liquidity.

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Fitch affirmed the long-term issuer default rating of Humana Inc. at BBB+.

The rating agency also affirmed the A insurer financial strength ratings assigned to Humana's subsidiaries Humana Insurance Co., Humana Medical Plan Inc., Humana Health Plan Inc., Humana Health Benefit Plan of Louisiana Inc. and CarePlus Health Plans Inc.

The outlooks are stable.

The ratings reflect Humana's strong business profile, financial performance, and capitalization and leverage characteristics.