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FOR IMMEDIATE RELEASE
OLDWICK - NOVEMBER 04, 2015 12:38 PM (EST)
A.M. Best has placed under review with positive implications the financial strength rating of B++ (Good) and the issuer credit rating of “bbb” of Security Life Insurance Company of America (Security Life) (Minnetonka, MN). Security Life is a wholly owned subsidiary of Security American Financial Enterprises, Inc. (SAFE).
The rating actions reflect the announcement of Ameritas Life Insurance Corp.’s intent to acquire SAFE and its two operating subsidiaries, Security Life and Security Health Insurance Company of America, New York Inc. The transaction is anticipated to close with an effective date of Dec. 31, 2015, subject to regulatory approvals. A.M. Best believes Security Life will benefit from being part of Ameritas Life Insurance Corp., which has considerable financial resources and a recognized name in the group dental and vision benefits markets. Specifically, A.M. Best notes Ameritas Life Insurance Corp.’s deep provider network, which is expected to enable Security Life to access larger discounts, and thereby more competitively price its individual and small group dental and vision products.
A.M. Best will continue to monitor the impact of the transaction on Security Life’s ratings through ongoing discussions with company management. Security Life’s ratings will remain under review until the transaction is completed.
This press release relates to rating(s) that have been published on A.M. 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 visit A.M. Best’s Ratings & Criteria Center.
A.M. Best Company is the world’s oldest and most authoritative insurance rating and information source.