trending Market Intelligence /marketintelligence/en/news-insights/trending/lRB_XQrMEfEuKx9TlFTT-Q2 content esgSubNav
In This List

Insurance ratings actions, April 14


Anticipate the Unknown: Does Supply Chain Disruption Lead to Increased Credit Risk?


Data Stories: Data insights to help alleviate business complexity amid geopolitical risks


Expand Your Perspective: Data & Distribution Q&A


Street Talk | Episode 90: Banks should not wait on the Fed to put cash to work

Insurance ratings actions, April 14

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

Life and health

A.M.Best affirmedthe A- financial strength rating and "a-" issuer credit ratings of and its subsidiaries, American EquityInvestment Life Insurance Co. of New York and Eagle Life Insurance Co.

Concurrently,A.M. Best affirmed the "bbb-" issuer credit rating of American EquityInvestment Life Insurance's parent, AmericanEquity Investment Life Holding Co.

The outlookfor each rating is stable.

A.M.Best said the affirmation of the ratings of American Equity Investment Life Insuranceand its units reflects the group's position as a leading provider of fixed-indexedannuities, consistently ranking in the top three by market share. Additionally,the expanded utilization of Eagle Life to offer fixed-indexed annuities throughbroker/dealers provides diversification to the group's distribution channels.


A.M.Best revisedthe outlooks to positive from stable and affirmed the A- financial strength ratingand "a-" issuer credit rating of MississippiFarm Bureau Casualty Insurance Co.

A.M.Best said the actions reflect Mississippi Farm Bureau's strong risk-adjusted capitalization,well-established regional market presence and significant risk management actionstaken over the past several years to improve underwriting profitability. In addition,Mississippi Farm Bureau Casualty has benefited from somewhat less severe weather-relatedclaims activity, and has taken advantage of its network of longstanding and strongagency relationships.

A.M.Best revisedthe outlook to positive from stable and affirmed the B++ financial strength ratingand "bbb+" issuer credit ratings of Farm Bureau Mutual Insurance Co. of Michigan and ,which are members of the Michigan Farm Bureau Group.

A.M.Best said the positive outlook is based on the group's improving trend of risk-adjustedcapitalization, underwriting results and operating performance in recent years,generated by management's actions to improve profitability and reduce risk. Also,the group's positive ratings attributes include strong risk-adjusted capitalization,favorable five-year operating performance relative to its peer group and sound businessprofile in Michigan, the rating agency said.

FitchRatings affirmedthe A long-term issuer default rating of LoewsCorp.

The outlookis stable.

Fitchsaid the rating reflects the holding company's track record of being a good stewardof capital, robust coverage and leverage metrics, strong financial flexibility,and cash and investments position. These considerations are offset by a nearly completereliance on a single subsidiary, CNA Financial Corp., for ongoing dividend flowswith limited near-term prospects for diversification improvements, and possibilitythat Loews' other subsidiaries may require material capital support from the parentfor reinvestment and growth opportunities.