AM Best Affirms Credit Ratings of Humana Inc. and Its Health Insurance Subsidiaries
AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” (Excellent) for the majority of the health and dental insurance subsidiaries of
The affirmation of the ratings of
Humana’s earnings before interest and taxes (EBIT) interest coverage remains strong, at over 10 times EBIT at year-end 2020, based on solid earnings from operations. Furthermore, Humana’s goodwill and intangibles to equity remained below 40%, but increased significantly following the Kindred At Home acquisition.
The ratings of
The FSR of A- (Excellent) and the Long-Term ICRs of “a-” (Excellent) have been affirmed with stable outlooks for the following health and dental insurance subsidiaries of
-
Humana Insurance Company -
Humana Medical Plan, Inc. -
Humana Health Plan, Inc. -
Humana Health Benefit Plan of Louisiana, Inc. -
Humana Health Plan of Texas, Inc. -
Humana Health Insurance Company of Florida, Inc. -
Humana Benefit Plan of Illinois, Inc. -
Humana Health Plan of Ohio, Inc. -
Humana Employers Health Plan of Georgia, Inc. -
Humana Insurance Company of New York -
Humana Wisconsin Health Organization Insurance Corporation -
Humana Insurance Company of Kentucky -
Cariten Health Plan Inc. -
CarePlus Health Plans, Inc. -
HumanaDental Insurance Company -
CompBenefits Insurance Company -
CompBenefits Company -
CompBenefits Dental, Inc. -
The Dental Concern, Inc. -
DentiCare, Inc.
The following Long-Term IRs have been affirmed with stable outlooks:
Humana Inc.—
-- “bbb-”(Good) on
-- “bbb-” (Good) on
-- “bbb-” (Good) on
-- “bbb-” (Good) on
-- “bbb-” (Good) on
-- “bbb-” (Good) on
-- “bbb-” (Good) on
-- “bbb-” (Good) on
-- “bbb-” (Good) on
-- “bbb-” (Good) on
-- “bbb-” (Good) on
-- “bbb-” (Good) on
-- “bbb-” (Good) on
-- “bbb-” (Good) on
-- “bbb-” (Good) on
The following indicative Long-Term IRs have been affirmed with stable outlooks for the shelf registration:
Humana Inc.—
-- “bbb-” (Good) on senior unsecured debt securities
-- “bb+” (Fair) on subordinated debt securities
-- “bb” (Fair) on preferred shares
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 Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in
Copyright © 2021 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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