A.M. Best Places Credit Ratings of United Life Insurance Company Under Review With Developing Implications

OLDWICK, N.J.--(BUSINESS WIRE)-- A.M. Best has placed under review with developing implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of the United Life Insurance Company (United Life) (Cedar Rapids, IA).

The Credit Rating (rating) actions follow the announcement on Sept. 19, 2017, that United Life’s ultimate parent, United Fire Group, Inc., has entered into a definitive agreement to sell United Life to Kuvare Holdings, Inc. (Kuvare).

The ratings have been placed under review as A.M. Best needs to further evaluate Kuvare’s plans for United Life and the potential impact on the company’s fundamentals.

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 A.M. Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and A.M. Best Rating Action Press Releases.

A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2017 by A.M. Best Rating Services, Inc. and/or its subsidiaries. ALL RIGHTS RESERVED.

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A.M. Best

Frank Walko, CPA, FLMI

Financial Analyst

+1 908 439 2200, ext. 5072

[email protected]

or

Edward Kohlberg, CPA, CLU, FLMI

Associate Director

+1 908 439 2200, ext. 5664

[email protected]

or

Christopher Sharkey

Manager, Public Relations

+1 908 439 2200, ext. 5159

[email protected]

or

Jim Peavy

Director, Public Relations

+1 908 439 2200, ext. 5644

[email protected]

Source: A.M. Best