Workers expect their defined contribution plans to play a greater role in their retirement income than annuities.
OLDWICK, N.J.--(BUSINESS WIRE)--
A.M. Best Co. has affirmed the financial strength rating of A-
(Excellent) and issuer credit rating of â€œa-â€ of Stonebridge Casualty
Insurance Company (Stonebridge) (Columbus, OH), the
property/casualty subsidiary of AEGON N.V. (AEGON) (Netherlands)
(NYSE: AEG). The outlook for these ratings is stable.
The ratings reflect Stonebridgeâ€™s strong capitalization and the
financial and operational support provided by AEGON. Offsetting these
positive factors is Stonebridgeâ€™s varied premium growth and inconsistent
Notwithstanding, the rating outlook reflects the generally favorable
performance of Stonebridgeâ€™s core book of travel insurance business and
the commitment of AEGON to maintain a level of capitalization that is
supportive of the companyâ€™s current ratings. A.M. Best notes that the
primary U.S. life/health subsidiaries of AEGON experienced substantial
deterioration in profitability and investment performance during 2008,
and the financial results of these affiliates are likely to experience
further pressure in 2009.
For Bestâ€™s Credit Ratings, an overview of the rating process and rating
methodologies, please visit www.ambest.com/ratings.
The principal methodologies used in determining these ratings, including
any additional methodologies and factors that may have been considered,
can be found at www.ambest.com/ratings/methodology.
Founded in 1899, A.M. Best Company is a global full-service credit
rating organization dedicated to serving the financial and health care
service industries, including insurance companies, banks, hospitals and
health care system providers. For more information, visit www.ambest.com.
AnalystsRichelle Bryan, 908-439-2200, ext. firstname.lastname@example.orgJoseph
Roethel, 908-439-2200, ext. email@example.comPublic
RelationsJim Peavy, 908-439-2200, ext. firstname.lastname@example.orgRachelle
Morrow, 908-439-2200, ext. email@example.com
Source: A.M. Best Co.