A.M. Best Removes From Under Review With Positive Implications and Upgrades Issuer Credit Rating of Bankers Life Insurance Company

OLDWICK, N.J.--()--A.M. Best has removed from under review with positive implications and upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bb+” from “bb” and affirmed the Financial Strength Rating of B (Fair) of Bankers Life Insurance Company (Bankers Life) (Durham, NC). The outlook assigned to these Credit Ratings (ratings) is positive. Bankers Life, through an intermediate holding company structure, is now ultimately owned by Greg E. Lindberg and managed by Global Bankers Insurance Group (GBIG). GBIG is the management company for all insurance operations within the organization, consisting of a diversified group of life and annuity insurance carriers in the United States and abroad.

The Long-Term ICR upgrade reflects Bankers Life’s strong and improved risk-adjusted capitalization along with its adequate balance sheet, as the new parent company has committed to maintaining the company’s capital levels going forward. The rating upgrade also reflects the company’s limited business profile and appropriate enterprise risk management (ERM). Under its previous ownership, the company’s overall capitalization had been a rating issue for Bankers Life. Recent capital contributions have alleviated these rating concerns resulting in the rating upgrade. The positive outlooks reflect A.M. Best’s expectation that risk-adjusted capitalization will continue to improve with profitable growth.

A.M. Best will continue to monitor Bankers Life’s integration related to the company’s business strategy, changes to the asset allocation within the balance sheet, capital management, operating performance and ERM program.

This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and A.M. Best Rating Action Press Releases.

A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

A.M. Best
Jason MacKenzie
Financial Analyst
+1 908 439 2200, ext. 5649

jason.mackenzie@ambest.com
or
Anthony McSwieney
Senior Financial Analyst
+1 908 439 2200, ext. 5715

anthony.mcswieney@ambest.com
or
Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159

christopher.sharkey@ambest.com
or
Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644

james.peavy@ambest.com

Contacts

A.M. Best
Jason MacKenzie
Financial Analyst
+1 908 439 2200, ext. 5649

jason.mackenzie@ambest.com
or
Anthony McSwieney
Senior Financial Analyst
+1 908 439 2200, ext. 5715

anthony.mcswieney@ambest.com
or
Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159

christopher.sharkey@ambest.com
or
Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644

james.peavy@ambest.com