Press Release - JUNE 07, 2019

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


CONTACTS:
 Richard Francis
Senior Financial Analyst
+1 908 439 2200, ext. 5152
richard.francis@ambest.com

Edward Kohlberg
Director
+1 908 439 2200, ext. 5664
edward.kohlberg@ambest.com
Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

FOR IMMEDIATE RELEASE

OLDWICK - JUNE 07, 2019
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.


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AMB# Company Name
009458 LifeShield National Insurance Co