A.M. Best Affirms Ratings of Primerica, Inc. and Its Subsidiaries
Business Wire, Inc. |
Primerica’s ratings recognize its status as one of the largest writers of term life insurance in
Primerica’s earnings also have been consistent with A.M. Best’s expectations, as the group recorded GAAP net income of
After ceding 80%-90% of its inforce business to Citigroup, Inc. (which substantially reduced the group’s absolute levels of assets, reserves and surplus), Primerica’s year-end 2011 regulatory capital ratio declined significantly from 2010 levels. However, risked-based capitalization has improved at the end of the first quarter of 2012, through the creation of
Offsetting these positive rating factors is Primerica’s separation from Citigroup, Inc. and the associated reinsurance transactions, which have diminished its absolute capital position and earnings power. While
The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.
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Copyright: | Copyright Business Wire 2012 |
Wordcount: | 622 |
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