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JULY 09, 2020 03:59 PM (EDT)

AM Best Revises Outlooks to Positive for the Members of BCS Financial Group


CONTACTS:
 Brian Virostek
Financial Analyst
+1 908 439 2200, ext. 5531
brian.virostek@ambest.com

Bridget Maehr
Associate Director
+1 908 439 2200, ext. 5321
bridget.maehr@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 - JULY 09, 2020 03:59 PM (EDT)
AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of the members of BCS Financial Group (BCS). These members include BCS Insurance Company, 4 Ever Life Insurance Company and 4 Ever Life International Limited. BCS Insurance Company and 4 Ever Life Insurance Company are headquartered in Oakbrook Terrace, IL, U.S.A. and 4 Ever Life Insurance Company is domiciled in Hamilton, Bermuda.

The Credit Ratings (ratings) reflect the members’ balance sheet strength, which AM Best categorizes as strongest, as well as their adequate operating performance, limited business profile and appropriate enterprise risk management.

The revised outlooks reflect the strengthening of BCS’ business profile. BCS is jointly owned by 36 Blue Cross Blue Shield plans and its strategic role is to provide solutions for the emerging needs of its owners and other partners via its product portfolio, distribution capabilities and services. Over the past year, BCS has launched new group voluntary accident, critical illness, and hospital indemnity products to capture emerging opportunities driven by growing deductibles and out-of-pocket costs. In addition, BCS is focused on expanding internationally to enable Blue Cross Blue Shield plans to serve overseas members of U.S.-based clients with global operations.

The group members’ balance sheet strength assessment of strongest is based on Best’s Capital Adequacy Ratio (BCAR) and supported by consistently favorable net income and BCS’ use of reinsurance partners. The favorable operating performance has been driven by consistent pre-tax net operating gains driven by positive underwriting experience and supplemented by relatively stable investment income. Profitability metrics have been good with a return on revenue of more than 6.0% for the past three years.

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 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 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 New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.


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