S&P Global Market Intelligence compiles ratings actions in the insurance space daily through 5 p.m. ET. Actions after 5 p.m. ET will be included in the following day's roundup.
U.S. and Canada
A.M. Best affirmed the A- financial strength ratings and "a-" long-term issuer credit ratings of National Teachers Associates Life Insurance Co. and its affiliate, NTA Life Insurance Co. of New York. The outlook is stable.
The ratings reflect the companies' balance sheet strength, which A.M. Best categorizes as strongest, as well as their adequate operating performance, limited business profile and appropriate enterprise risk management.
The companies' risk-adjusted capital remains in the strongest category and is expected to stay at that level due to the capital support agreement pledged by ultimate parent Horace Mann Educators Corp., according to A.M. Best.
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A.M. Best assigned the A financial strength ratings and "a" long-term issuer credit ratings to Athene Co-Invest Reinsurance Affiliate 1A Ltd. and subsidiary Athene Co-Invest Reinsurance Affiliate 1B Ltd. The outlook assigned to the financial strength ratings is stable, and the outlook given to the long-term issuer credit ratings is positive.
The ratings reflect the companies' balance sheet strength, which A.M. Best categorizes as very strong, as well as their strong operating performance, neutral business profile and appropriate enterprise risk management.
Athene Holding Ltd.'s ratings are extended to the companies due to their strategic roles in the group's business strategy, and the explicit financial supported provided by affiliates and investors.
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A.M. Best upgraded the long-term issuer credit rating to "ccc-" from "cc" and affirmed the C- financial strength rating of American Heartland Insurance Co. The rating agency also affirmed the C++ financial strength rating and "b" long-term issuer credit rating of the company's affiliate, United Equitable Insurance Co. The outlook remains stable.
The ratings of American Heartland reflect its balance sheet strength, which A.M. Best categorizes as very weak, as well as its adequate operating performance, limited business profile and marginal enterprise risk management.
The ratings of United Equitable reflect its balance sheet strength, which A.M. Best categorizes as weak, as well as its adequate operating performance, limited business profile and marginal enterprise risk management.
The upgrade reflects the recent improvement in American Heartland's risk-adjusted capitalization and key underwriting leverage measures, while keeping volatility low in combined and operating ratios.
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Moody's affirmed the A2 insurance financial strength ratings of Cigna Corp.'s operating insurance subsidiaries, Connecticut General Life Insurance Co., Life Insurance Co. of North America and Cigna Health & Life Insurance Co. The outlook is stable.
The ratings reflect Cigna's strong market position, relatively low underwriting risk, the strong capital position of its health insurance operating subsidiaries and its leading EBITDA margin among other health insurers rated by Moody's.
Europe
A.M. Best affirmed the B+ financial strength rating and "bbb-" long-term issuer credit rating of S2c Spa Compagnia Di Assicurazioni Di Crediti E Cauzioni. The outlook remains stable.
The ratings reflect the company's balance sheet strength, which A.M. Best categorizes as adequate, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
The company's risk-adjusted capitalization, which A.M. Best categorizes as strongest, is expected to remain at least at the very strong level over the medium term. The company's balance sheet strength is offset by its limited financial flexibility, material exposure to Italian government bonds and small capital base, according to the rating agency.
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Fitch Ratings affirmed the A insurer financial strength rating of Stuttgarter Lebensversicherung AG. The outlook is stable.
The rating reflects the company's strong capitalization and strong financial performance, offset by its high exposure to interest-rate risk, its small size, and limited geographical and product diversification.
This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.
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