A.M. Best Revises Outlooks to Positive for SSQ Life Insurance Company, Inc.
The ratings reflect SSQ’s balance sheet strength, which
SSQ is primarily involved in group insurance and holds significant market share within the
The positive outlooks reflect SSQ’s improved risk-adjusted capitalization coupled with a trend of decreasing financial leverage due to significant capital growth and pay down of debt. The company’s risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), has improved notably in the previous several years due to the growth in capital. In addition, the company reported a very favorable regulatory solvency ratio during 2018 under AMF’s new capital regime CARLI (capital adequacy requirements for life insurers), which took effect in
SSQ also continues to produce strong operating performance year-over-year, often with low double-digit returns on equity. Despite some volatility in earnings by line, group insurance continues to generate favorable earnings on growing business volume. The company’s investment and retirement division also has emerged as an earnings producer in the previous two years due to successful implementation of profitability enhancements.
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
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