AM Best Revises Outlooks to Positive for Funeral Directors Life Insurance Company

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Funeral Directors Life Insurance Company (FDLIC) (Abilene, TX).

The Credit Ratings (ratings) reflect FDLIC’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

The revision of the outlooks to positive from stable recognizes FDLIC’s operating performance, particularly the rate of premium growth and new business production. The positive outlooks also reflect FDLIC’s consistency in positive operating gains, a testament to prudent expense management and underwriting practices amid elevated new business strain. AM Best will continue to monitor trends in FDLIC’s premium growth, underwriting performance, reserving and overall operating results.

FDLIC’s financial strength is underpinned by organic capital growth sourced from operating earnings, and a specialized mortgage portfolio that bolsters net investment income. The company’s expertise in the pre-need insurance market and the ancillary services FDLIC provides to partnered funeral homes have resulted in longstanding relationships with key intermediaries in the industry. FDLIC’s reach is expanded further by establishing strategic partnerships with third-party marketing organizations, in addition to building a captive agent force. These initiatives have allowed FDLIC to build a robust distribution network, pushing growth rates beyond current industry averages.

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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 London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

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