A.M. Best Affirms Ratings of Torchmark Corporation and Its Subsidiaries
Business Wire, Inc. |
The ratings reflect Torchmark’s status as a niche provider of life insurance, its consistently favorable earnings and improved investment results. The organization specializes in providing life and supplemental health insurance to middle class Americans through multiple distribution channels. Key subsidiaries of
While Torchmark’s life insurance products generate the majority of the organization’s earnings, its individual annuity and supplemental health insurance lines of business continue to provide earnings diversification. Ongoing expense management, improved persistency and agent growth within some of its subsidiaries are key drivers to Torchmark’s future growth. Additionally,
Offsetting these positives are the ongoing premium challenges within some of Torchmark’s product lines and the impact it will have on its future growth. Although the agent count has improved within American Income’s distribution force, Liberty National and
Additionally,
The FSRs of A+ (Superior) and ICR of “aa-” have been affirmed for the following life/health subsidiaries of
Liberty National Life Insurance Company Globe Life and Accident Insurance Company United American Insurance Company First United American Life Insurance Company American Income Life Insurance Company National Income Life Insurance Company
The following debt ratings have been affirmed:
Torchmark Corporation—
-- AMB-1 on commercial paper
Torchmark Corporation—
-- “a-” on
-- “a-” on
-- “a-” on
-- “a-” on
Torchmark Capital Trust III—
-- “bbb” on
The following indicative debt ratings available under the shelf registration have been affirmed:
Torchmark Corporation—
-- “a-” on senior unsecured debt
-- “bbb+” on subordinated debt
-- “bbb” on preferred stock
Torchmark Capital Trust IV and V—
-- “bbb” on trust preferreds
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 © 2012 by A.M. Best Company, Inc.ALL RIGHTS RESERVED.
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Copyright: | Copyright Business Wire 2012 |
Wordcount: | 827 |
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