A "sale" is the exchange of personal information for payment or other valuable consideration and includes certain advertising and anatytics practices. The California Consumer privacy Act gives California residents the right to opt-out of the sale or sharing of their personal information. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds. Certain property-casualty coverages may be provided by a surplus lines insurer. Non-insurance products and services may be provided by independent third parties. Products or services may not be available in all countries and jurisdictions, and coverage is subject to underwriting requirements and actual policy language. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. AIG common stock is listed on the New York Stock Exchange.ĪIG is the marketing name for the worldwide property-casualty and general insurance operations of American International Group, Inc. AIG member companies offer insurance solutions that help businesses and individuals in approximately 70 countries and jurisdictions protect their assets and manage risks. (AIG) is a leading global insurance organization. All rights reserved.Īmerican International Group, Inc. ALL RIGHTS RESERVED.Copyright © 1997-2023 American International Group, Inc. For more information, visit Copyright © 2021 by A.M. 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 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.ĪM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. 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. This press release relates to Credit Ratings that have been published on AM Best’s website. The company’s ERM program, headed by the chief risk officer, is a formal, enterprise-wide function reinforced through all levels of the organization and supports its risk appetite. Additionally, the company offers products that are deemed to be low to medium risk, thereby minimizing its product risk profile. Over time, Liberty Bankers Group has demonstrated its strategic organic and inorganic growth capabilities through innovations and acquisitions. Liberty Bankers Group recorded its highest earnings to date in recent periods and AM Best expects the company to maintain current operating levels. Return on equity is approaching double digits and net income has remained positive. However, management has demonstrated the ability to manage these risks appropriately. AM Best notes as offsetting factors the group’s elevated exposure to NAIC 2 bonds, as well as its real estate and mortgage loan portfolios, which increases the company’s investment risk profile. While annuities remain the largest line of business, the life and health insurance lines now have become significant contributors to the group’s operating income. The upgrades also reflect the group’s continued diversification of operations. The rating upgrades are indicative of Liberty Bankers Group’s very strong balance sheet strength assessment, risk-adjusted capitalization, which has been assessed in the strongest category, as measured by Best’s Capital Adequacy Ratio (BCAR), and the company’s adequate reserves. The ratings reflect Liberty Bankers Group’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM). The outlook of these Credit Ratings (ratings) has been revised to stable from positive. OLDWICK, N.J.-( BUSINESS WIRE)- AM Best has upgraded the Financial Strength Rating (FSR) to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) to “a-” (Excellent) from “bbb+” (Good) of Liberty Bankers Life Insurance Company (Oklahoma City, OK), and its wholly owned life insurance subsidiaries, The Capitol Life Insurance Company (Dallas, TX) and American Benefit Life Insurance Company (Oklahoma City, OK), together known as the Liberty Bankers Group.
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