OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best has removed from under review with developing implications and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb-” of Investors Heritage Life Insurance Company (IHLIC), which is a subsidiary of Aquarian Investors Heritage Holdings LLC (Aquarian). The outlook assigned to these Credit Ratings (ratings) is stable. Concurrently, A.M. Best has removed from under review with developing implications and has withdrawn the Long-Term ICR of “bb-” of the company’s intermediate holding company, Investors Heritage Capital Corporation. Both companies are domiciled in Frankfort, KY.
The ratings reflect IHLIC’s balance sheet strength, which A.M. Best categorizes as strong, as well as its marginal operating performance, limited business profile and appropriate enterprise risk management.
Both companies were acquired recently by Aquarian, a private holding company formed to focus on insurance and financial services. A.M. Best notes that Aquarian’s strategic plan is to grow IHLIC’S pre-need and final expense life products and expand into traditional fixed annuity products while providing sufficient capital to support business growth. Going forward, A.M. Best will monitor the implementation and execution of this strategy.
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