OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Wysh Life and Health Insurance Company (WLHIC) (Milwaukee, WI). The outlook assigned to the Credit Ratings (ratings) is stable.
The ratings reflect Wysh Life and Health Insurance Company’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
The ratings also reflect the company’s plan of making a capital investment to keep an appropriate level of risk-adjusted capital, as measured by Best’s Capital Adequacy Ratio (BCAR), for its direct-to-consumer term life insurance platform, along with regulatory risk-adjusted capital. The company expects to use sponsor-supported affiliated capital in the form of cash contributions.
The company plans to grow through a direct-to-consumer business model for its term life business, without the need for broker or agent interactions as part of the closing process. The business model is to focus on originating term life products to a marketplace that does not have the need or desire to purchase insurance through traditional channels.
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