AM Best Affirms Credit Ratings of MetLife, Inc. and Its Life/Health Subsidiaries
AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of the members of
The ratings reflect MetLife’s balance sheet strength, which AM Best assesses as strong, as well as its strong operating performance, very favorable business profile and appropriate enterprise risk management (ERM).
MetLife’s strong balance sheet strength assessment is supported by its consolidated holding company view of capital adequacy that is enhanced by the financial flexibility and the liquidity of its ultimate parent (
The group has a history of generating revenue growth and consistently positive operating metrics on a statutory and GAAP basis. Earnings are well-diversified by geography, business line and distribution channel. Earnings volatility is lower within its group benefits segment. AM Best views the group’s operating performance as strong, with its focus on enhancing its product offerings, concentration on higher margin product lines with steadier returns and lower expenses. AM Best views the group’s ERM as appropriate, as it continues to focus on improving its overall program, capital modeling and stress testing.
The ratings also reflect the organization’s strong and defensible market positions in many of its core lines of business and the diversity in its product offerings and geographic markets in
The FSR of A+ (Superior) and the Long-Term ICRs of “aa-” (Superior) have been affirmed with stable outlooks for the following subsidiaries of
-
Delaware American Life Insurance Company -
Metropolitan Life Insurance Company -
Metropolitan Tower Life Insurance Company -
SafeGuard Health Plans, Inc. (TX) -
SafeGuard Health Plans, Inc. (FL) -
SafeGuard Health Plans, Inc. (CA) -
MetLife Global Benefits, Ltd. -
Metropolitan General Insurance Company
The following Short-Term IRs have been affirmed:
-- AMB-1+ (Strongest) on commercial paper
-- AMB-1 (Outstanding) on commercial paper
The following Long-Term IRs have been affirmed with a stable outlook:
-- “a-” (Excellent) on
-- “a-” (Excellent) on
-- “a-” (Excellent) on
-- “a-” (Excellent) on
-- “a-” (Excellent) on
-- “a-” (Excellent) on
-- “a-” (Excellent) on
-- “a-” (Excellent) on
-- “a-” (Excellent) on
-- “a-” (Excellent) on
-- “a-” (Excellent) on
-- “a-” (Excellent) on
-- “a-” (Excellent) on
-- “a-” (Excellent) on
-- “a-” (Excellent) on
-- “a-” (Excellent) on
-- “a-” (Excellent) on
-- “a-” (Excellent) on
-- “a-” (Excellent) on
-- “a-” (Excellent) on
-- “a-” (Excellent) on
-- “a-” (Excellent) 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
Metropolitan Life Insurance Company—
-- “a” (Excellent) on
-- “a” (Excellent) on
Metropolitan Life Global Funding I— “aa-” (Superior) program rating
-- “aa-” (Superior) on all outstanding notes issued under the program
The following indicative Long-Term IRs have been affirmed stable outlooks:
-- “a-” (Excellent) on senior unsecured debt
-- “bbb+” (Good) on subordinated debt
-- “bbb” (Good) on preferred stock
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.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in
Copyright © 2024 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
src="https://cts.businesswire.com/ct/CT?id=bwnewssty=20240208297378r1sid=acqr8distro=nxlang=en" style="width:0;height:0" />
View source version on businesswire.com: https://www.businesswire.com/news/home/20240208297378/en/
Senior Financial Analyst
+1 908 882 2316
[email protected]
Jacqalene Lentz
Director
+1 908 882 2011
[email protected]
Associate Director, Public Relations
+1 908 882 2310
[email protected]
Senior Public Relations Specialist
+1 908 882 2318
[email protected]
Source: AM Best
Mercury Insurance Invests in a New Vision of Data Science with the Appointment of Chief Data Analytics Officer
Aflac Incorporated a Fortune Most Admired Company for 23rd Time
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News