OKLAHOMA CITY, April 27 -- The Oklahoma State House of Representatives issued the following news:

The Oklahoma House of Representatives today unanimously passed a bill that will allow individuals to purchase health insurance from any state participating in a yet-to-be-determined compact. The bill passed by a vote of 80-0.

Senate Bill 478, by state Rep. Lewis Moore and Bill Brown of the Senate, will allow the Oklahoma Insurance Department to compact with other states in offering more affordable and better tailored individual health insurance policies across state lines. The plans would still have to be approved by each participating state legislature, but would require all compacted states to offer coverage that minimally matches mandated coverage required in Oklahoma.

"This bill will make individual insurance more affordable and will increase coverage options for Oklahomans," said Moore, R-Arcadia.

He said the bill will allow individuals to keep their current Oklahoma plans if they wish, or they can shop for more affordable plans or ones better tailored to meet their individual needs. The compact also will allow individuals to find better coverage in some instances, such as for autism care. Thirty-two other states offer coverage with more mandates to include more comprehensive coverage for those with autism, Moore said.

Oklahoma Insurance Commissioner John Doak recently issued a statement in favor of the bill saying the measure will not circumvent Oklahoma coverage mandates, and in some cases could result in better coverages than now offered.

Moore said this bill puts in place the mechanism for the insurance department to move forward on negotiating plans and forming a compact. The bill has protections for Oklahoma companies as they compete to match policies offered by other states.

The bill now goes to conference committee before returning to the Senate for final passage.

"Many groups combined to take ownership of SB478 and make it better," Rep. Moore said.

OLDWICK, N.J.--(BUSINESS WIRE)--
AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “aa+” (Superior) of Berkshire Hathaway Life Insurance Company of Nebraska (BHLN) (Omaha, NE). In addition, AM Best has affirmed the FSR of A+ (Superior) and the Long-Term ICR of “aa-” (Superior) of First Berkshire Hathaway Life Insurance Company (First Berkshire Hathaway Life) (New York, NY). The outlook of these Credit Ratings (ratings) is stable.

BHLN’s ratings reflect its 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 (ERM).

BHLN has continued to produce favorable capital growth. In large part, the company's growth heading into 2024 was attributed to realized gains from the sale of unaffiliated equity holdings, driving annual net income to over $3 billion dollars. Irrespective of that recently realized gain, the subsequent 2025 performance proved a longer-term trend of investment income growth from an enhanced net yield on invested assets. The company’s core net investment income moderated slightly to $717.6 million in 2025, down from $732.0 million, maximizing capital accumulation without relying on one-time market sales.

Furthermore, the company encountered less operational strain across both years following the suspension of new business initiated in 2023. This deliberate approach allowed BHLN to run an exceptionally efficient balance sheet throughout 2024 and 2025, as the company awaits more favorable macro-economic conditions for its structured settlement business.

The ratings of First Berkshire Hathaway Life reflect its balance sheet strength, which AM Best assesses as strongest, as well as its marginal operating performance, limited business profile and appropriate ERM.

Like BHLN, 2024 also represented First Berkshire Hathaway Life’s second full year of no new sales, which along with improved investment income, led to its best net earnings result in over five years of nearly $6.3 million. Despite this result, the company still lags the industry average for return on equity due to the amount of excess capital that it holds. AM Best notes that First Berkshire Hathaway Life’s balance sheet continues to be highly liquid, with most invested assets held in cash and short-term securities. AM Best also notes that both BHLN and First Berkshire Hathaway Life receive substantial financial, operational and other resource support from their parent company, National Indemnity Company.

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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Mitul Patel
Senior Financial Analyst

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Edward Kohlberg
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Christopher Sharkey
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Al Slavin
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Source: AM Best