AM Best Places Credit Ratings of LifeShield National Insurance Co. Under Review With Developing Implications

Business Wire

OLDWICK, N.J.--(BUSINESS WIRE)-- AM Best has placed under review with developing implications the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” of LifeShield National Insurance Co. (LifeShield National) (Oklahoma City, OK).

The Credit Ratings (rating) actions reflect LifeShield National’s recent announcement of its intent to acquire Individual Assurance Company, Life, Health & Accident (IAC). In its announcement, LifeShield National indicated that it would purchase 100% of the ownership interests of IAC for cash. The transaction is expected to close early in the second or third quarter of 2019. The ratings, which were last updated in May 2018, will remain under review pending upcoming discussions with LifeShield National’s management, including analysis of proforma projections of capital and earnings, for an assessment of the potential impact on the company’s current ratings.

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 Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.

AM Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit www.ambest.com for more information.