Best’s News & Research Service - September 13, 2023 11:01 AM (EDT)
AM Best Assigns Credit Ratings to Atlantic Capital Life Assurance Company
- September 13, 2023 11:01 AM (EDT)
Oldwick //BestWire// - AM Best has assigned a Financial Strength Rating of A-(Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Atlantic Capital Life Assurance Company (ACLAC) (Atlanta, GA), a wholly owned subsidiary of Bankers Fidelity Life Insurance Company (BFLIC). The outlook assigned to these Credit Ratings (ratings) is stable. ACLAC is a newly added member of the Bankers Fidelity Life Insurance Group (BFLIG).
The ratings reflect ACLAC’s inclusion as a member of BFLIG with a very strong balance sheet strength assessment, marginal operating performance, neutral business profile and appropriate enterprise risk management.
ACLAC is a newly formed entity of BFLIC. The strategic purpose of ACLAC is to provide BFLIC flexibility in writing new Medicare supplement business. ACLAC’s sole line of business is currently Medicare supplement and all of its premiums will be ceded to BFLIC. Additionally, ACLAC received its initial startup capital from BFLIC, and both companies’ share a common management team, distribution force, administrative service and risk management program. ACLAC will be doing business as Bankers Fidelity Life in the market. As a result, AM Best is extending the group rating of BFLIG to ACLAC.
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 Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. 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.