OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best has withdrawn the financial strength rating (FSR) of A (Excellent) and issuer credit ratings (ICR) of “a+” of Acacia Life Insurance Company (Acacia) (Bethesda. MD) and The Union Central Life Insurance Company (Union Central) (Cincinnati, OH), due to the merger with and into their parent company, Ameritas Life Insurance Corp. (Ameritas Life) (Lincoln, NE), effective July 1, 2014. The ratings of Ameritas Life as well as the debt rating on Union Central’s outstanding surplus notes remain unchanged.
As approved by the state of Nebraska, all outstanding liabilities of Acacia and Union Central – including the aforementioned surplus notes – have been assumed by Ameritas Life. The FSR of A (Excellent) and ICR of “a+” of Ameritas Life were affirmed with a positive outlook on March 28, 2014. (Click here to see press release.)
The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.
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