S&P Upgrades Delaware Life Insurance Company Financial Strength and Issuer Credit Rating to A- with Stable Outlook

ZIONSVILLE, Ind.--(BUSINESS WIRE)--Delaware Life Insurance Company (“Delaware Life”), a Group 1001 Insurance company, today announced that S&P Global Ratings (“S&P”) has upgraded its issuer credit and financial strength rating from BBB+ to A- with a stable outlook.

Delaware Life’s upgraded S&P rating was assigned based on several factors cited by S&P, including the company’s strong capital, diversified distribution channels and wholesaler distribution model, as well as its strong operating performance. Please refer to S&P’s press release for more specific details about this rating action and the factors behind the rating decision.

View S&P Press Release

“This significant achievement reflects Delaware Life’s strong financial performance, disciplined risk management approach, and consistent execution of its strategic initiatives,” said Linda Wang, Group 1001 Life & Annuity Chief Financial Officer. “This ratings upgrade will further strengthen our multi-channel distribution model, and we are excited to build new relationships and expand our role as a trusted financial solutions provider in the annuity market.”

In addition to S&P’s rating, Delaware Life received an A- (Strong) rating from Fitch in July 2024 and an A- (Excellent) rating from AM Best in October 2024.

About Delaware Life Insurance Company

Delaware Life is an insurance and annuity company that empowers financial professionals with a wide array of customizable solutions. A subsidiary of Group 1001 Insurance Holdings, LLC (“Group 1001 Insurance”), our focus is to deliver a seamless experience for advisors. We understand how important it is to find the right fit for every client, every situation, and every individual need. We’re passionate about equipping you with annuities that give your customers peace of mind and a successful future—allowing them to plan with confidence for whatever’s next.

About Group 1001 Insurance

Group 1001 Insurance is a collective that empowers companies to create positive growth. Our insurance and annuities are easy to understand and accessible to all. Our online investing platform gives individuals control over their savings. Our technology and innovation help companies succeed. And our strategic partnerships bring people together through education and sports.

As of September 30, 2024, Group 1001 Insurance had more than 1,500 employees and combined assets under management of $66.8 billion and provides over 496,000 active annuity contracts and life insurance policies. It comprises the following brands: Delaware Life, Gainbridge®, Clear Spring Life and Annuity Company, Clear Spring Property and Casualty Group, Clear Spring Health, and the RVI Group, among others.