AM Best

A.M. Best Removes From Under Review with Developing Implications and Affirms Credit Ratings of United Life Insurance Company


Erik Miller
Senior Financial Analyst
+1 908 439 2200, ext. 5187

Rosemarie Mirabella
+1 908 439 2200, ext. 5892

Christopher Sharkey
Manager, Public Relations
(908) 439 2200, ext. 5159

Jim Peavy
Director, Public Relations
(908) 439 2200, ext. 5644


OLDWICK - APRIL 19, 2018 01:37 PM (EDT)
A.M. Best has removed from under review with developing implications and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of United Life Insurance Company (ULIC), a wholly owned subsidiary of Kuvare US Holdings, Inc. (Kuvare), which is a subsidiary of Kuvare Holdings LP. The outlook assigned to these Credit Ratings (ratings) is stable. ULIC is headquartered in Cedar Rapids, IA.

The ratings reflect ULIC’s balance sheet strength, which A.M. Best categorizes as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. As a result of the change in ownership, A.M. Best expects ULIC’s operating profile to improve through effective expense controls, increased distribution and expanding sales with enhanced risk management while maintaining a very strong balance sheet. ULIC will be an integral part of Kuvare’s operations and A.M Best has noted positive contributions from its ownership of another life subsidiary.

Offsetting rating factors include ULIC’s historic declining life sales, which have been geographically concentrated in the Midwest over the last five years. As a result, ULIC’s has had fluctuating earnings and poor operating returns when compared with peers.

This press release relates to Credit Ratings 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 see A.M. 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 A.M. Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and A.M. Best Rating Action Press Releases.

A.M. Best is the world’s oldest and most authoritative insurance rating and information source.

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AMB# Company Name
046411 Kuvare Holdings LP
007178 United Life Insurance Company