AM Best Assigns Credit Ratings to Upstream Life Insurance Company

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of “bbb+” to Upstream Life Insurance Company (Upstream) (Dallas, TX). The outlook assigned to these Credit Ratings (ratings) is stable.

The ratings reflect Upstream’s balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).

As a new company formation, AM Best requires a level of conservatism to be built into initial capital levels, and the very strong balance sheet assessment is based on Upstream’s current risk-adjusted capital level that provides support during the initial start-up period.

Partially offsetting rating factors are a limited product offering within a highly competitive product space in which Upstream will be competing, limited capital resources to draw from, and initial operating losses, which should reverse over time. Upstream’s business strategy is subject to execution risk, and it will need to continue to enhance its ERM risk measurement and modeling capabilities as its balance sheet and liability profile diversify in upcoming years.

This press release relates to Credit Ratings that have been published on AM 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 AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

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