A.M. Best Withdraws Ratings of Triangle Life Insurance Company Due to Legal Entity Merger

OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best Co. has withdrawn the financial strength rating (FSR) of B++ (Good) and issuer credit rating (ICR) of “bbb” of Triangle Life Insurance Company (Triangle Life) (Raleigh, NC) and assigned an NR-5 (Not Formally Followed) to the FSR and an “nr” to the ICR. Triangle Life was a subsidiary of Fortegra Financial Corporation (formerly known as Life of the South Corporation), a Georgia-based, diversified financial services company that specializes in the administration, marketing and manufacturing of insurance products in the United States.

Triangle Life recently merged with and into Life of the South Insurance Company (Life of the South) (Nashville, GA). The FSR of B++ (Good) and ICR of “bbb” of Life of the South are unchanged.

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The principal methodologies used in determining these ratings, including any additional methodologies and factors that may have been considered, can be found at www.ambest.com/ratings/methodology.

Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.