A.M. Best Affirms Ratings of Ohio National Financial Services, Inc. and Its Subsidiaries
Additionally,
The affirmation of the ratings for the
A partially offsetting rating factor is above-average separate account exposure, which contributes to potential equity market and interest rate sensitivity, although these risks are partially offset by hedging and utilization of external reinsurance. While risk-adjusted capitalization remains adequate, it has been enhanced by the use of captives to support redundant reserves and the issuance of surplus notes. Additionally, the group is expanding into the highly competitive retirement services market. Financial leverage, when measured on a tangible capital basis, is elevated, although it is within the higher range of A.M. Best’s expectations when computed on a total capital basis. Interest coverage remains below A.M. Best’s expectations for the current rating level with limited additional financial flexibility. However, interest coverage is partially mitigated by some holding company liquidity, and there are no scheduled debt maturities until 2020.
The ratings of NSLAC reflect its strategic importance as the
The following issue ratings have been affirmed with a stable outlook:
-- “a-” on
-- “a-” on
The Ohio National Life Insurance Company—
-- “a” on
-- “a” on
This press release relates to rating(s) that have been published on
Copyright © 2015 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.
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Assistant Vice President, Public Relations
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