A.M. Best Withdraws Credit Ratings of AF&L, Inc.’s Subsidiaries

OLDWICK, N.J.--(BUSINESS WIRE)-- A.M. Best has withdrawn the Financial Strength Rating of D (Poor) and the Long-Term Issuer Credit Rating of “c” of the subsidiaries of AF&L, Inc.: AF&L Insurance Company and Senior American Insurance Company (collectively referred to as AF&L Group) (Warminster, PA). The Credit Ratings (ratings) withdrawal reflects the fact that the timing and amount of information being provided to A.M. Best is insufficient to support an ongoing credit opinion of the company consistent with A.M. Best’s rating criteria.

While A.M. Best’s policy dictates that a final rating update be done in conjunction with a rating withdrawal, a final rating update was unable to be completed due to the absence of sufficient financial and other information necessary to support the formation of a current credit opinion.

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

Craig Draghi, +1-908-439-2200, ext. 5164

Financial Analyst

[email protected]

or

Jeff Lane, +1-908-439-2200, ext. 5567

Senior Financial Analyst

[email protected]

or

Christopher Sharkey, +1-908-439-2200, ext. 5159

Manager, Public Relations

[email protected]

or

Jim Peavy, +1-908-439-2200, ext. 5644

Director, Public Relations

[email protected]

Source: A.M. Best