AM Best Upgrades Credit Ratings of United Heritage Life Insurance Company; Revises Issuer Credit Rating Outlooks to Stable for Subsidiaries of United Heritage Financial Group, Inc.

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has upgraded the Financial Strength Rating (FSR) to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “a-” (Excellent) from “bbb+” (Good) of United Heritage Life Insurance Company (UHLIC) (Meridian, ID). Concurrently, AM Best has affirmed the FSR of B+ (Good) and the Long-Term ICR of “bbb-” (Good) of United Heritage Property & Casualty Company (UHPC) (Meridian, ID). The outlooks of these Credit Ratings (ratings) have been revised to stable from positive. AM Best also has affirmed the FSR of B++ (Good) and the Long-Term ICR of “bbb” (Good) of Sublimity Insurance Company (SIC) (Sublimity, OR). The outlook of the Long-Term ICR has been revised to stable from positive while the outlook of the FSR is stable. These companies are operating subsidiaries of United Heritage Financial Group, Inc.

The ratings of UHLIC reflect its balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM).

The ratings upgrade of UHLIC reflects improvement in its ERM and a revision of AM Best’s assessment to appropriate from marginal. This change also is incorporated in the rating assessments of UHPC and SIC given the group’s enterprise-wide governance practices.

The ratings of UHPC reflect its balance sheet strength, which AM Best assesses as strong, as well as its marginal operating performance, limited business profile and appropriate ERM.

The ratings of SIC reflect its balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate ERM.

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 use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

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