A.M. Best Affirms Credit Ratings of National Western Life Insurance Company
The ratings reflect NWLIC’s balance sheet strength, which
The ratings also reflect NWLIC’s relatively diversified business profile through its domestic life, international life and annuity operating segments. NWLIC consistently has been profitable on an operating basis, although derivative accounting has resulted in some volatility on a statutory basis. The investment portfolio has a lower percentage of higher risk assets than the industry average, and robust asset-liability matching and hedging programs enhance the balance sheet profile. Additionally,
These strengths are offset by NWLIC’s high concentration of reserves in interest-sensitive products, elevating the risk of duration mismatches, spread compression, and in the case of its large fixed indexed annuity book, the potential volatility in the cost and efficiency of its hedging program. In addition, the company has reported a declining trend in net premiums written in recent years, resulting from the strategic reduction in annuity production, and ceasing the acceptance of new life insurance business from several of its larger international markets.
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and
Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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