May 9, 2025 Newswires

AM Best Downgrades Credit Ratings of Leaders Life Insurance Company; Places Credit Ratings Under Review With Developing Implications

Business Wire

OLDWICK, N.J.--(BUSINESS WIRE)--
AM Best has downgraded the Financial Strength Rating to A-(Excellent) from A (Excellent) and the Long-Term Issuer Credit Rating to “a-” (Excellent) from “a” (Excellent) of Leaders Life Insurance Company (Leaders Life) (Tulsa, OK). Concurrently, these Credit Ratings (ratings) have been placed under review with developing implications.

The ratings reflect Leaders Life’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.

These rating actions follow the sale of Leaders Life to Truss Peak Holdings LLC and its affiliates, through their subsidiary, TPH Insurance Hold Co LP, which closed on May 1, 2025. The rating downgrades are based on an assessment of the company on a stand alone basis after the sale. Prior to the sale, Leaders Life was a member of the Michigan Farm Bureau Life Group rating unit.

The under review with developing implications status reflects the need for AM Best to review the post-transaction details and have further discussions with management regarding the company's business plans.

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 the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.