AM Best Affirms Credit Ratings of Elevance Health, Inc. and Its Subsidiaries
AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a+” (Excellent) of the core
In addition, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICR of “a-” (Excellent) of the members of
Lastly, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICR of “a-” (Excellent) of
The ratings of
AM Best recognizes that
Moreover,
The ratings of WellPoint reflect its balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate ERM. The ratings also factor in the support of its parent. Over the years, WellPoint entities have been assuming a large volume of Medicaid premium from various Elevance affiliates. Most recently, WellPoint terminated a couple of contacts, which is expected to have some impact on its overall operations in the near term.
Furthermore, the ratings of WISI reflect its balance sheet strength, which AM Best assesses as adequate, as well as its adequate operating performance, limited business profile and appropriate ERM. In addition, the ratings also factor in WISI’s strategic importance to the parent.
WISI’s rating affirmations reflect its risk-adjusted capitalization at the strongest level at year-end 2023, as measured by BCAR, driven mainly by an improved capital position. WISI’s capital growth was supported by its consistent positive earnings and no dividends to the parent company through third-quarter 2024. Elevance has demonstrated explicit and implicit support of WISI in past years. WISI benefits from the parent’s operational resources and expertise. WISI’s importance to the parent has increased in recent years as the volume of business in the core and the cell has expanded.
WISI is a
A complete listing of
AM Best remains the leading rating agency of alternative risk transfer entities, with more than 200 such vehicles rated in
This press release relates to Credit Ratings that have been published on AM 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 AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
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