AM Best Revises Outlooks to Negative for Individual Assurance Company, Life, Health & Accident; LifeShield National Insurance Co.
AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Individual Assurance Company, Life, Health & Accident (IAC) and LifeShield National Insurance Co. (LifeShield National).
- AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Individual Assurance Company, Life, Health & Accident (IAC) and LifeShield National Insurance Co. (LifeShield National).
- The revised outlooks reflect a decline in risk-adjusted capital at LifeShield National, which was driven by the elevated loss ratios on its cancer product.
- AM Best will continue to monitor LifeShield National’s performance going forward as it executes its planned capital management and rating actions.
- AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.