Business Services Industry
A.M. Best Affirms and Assigns Rating to Life Insurance Company of Alabama
Business Wire, Jan 29, 2007
OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating (FSR) of B (Good) and has assigned an issuer credit rating (ICR) of "bbb-" to Life Insurance Company of Alabama (LICOA) (Alabama). The outlook for both ratings is stable.
The ICR assignment reflects LICOA's continued profitable operations, its improved capital and surplus position and management's ongoing efforts to improve the company's operations.
Offsetting rating factors include LICOA's inability to significantly increase new life insurance production, the continued challenges associated with managing its unlimited benefit cancer insurance business and its sizeable investment concentration in an individual equity holding.
For Best's Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings.> Founded in 1899, A.M. Best Company is a full-service credit rating organization dedicated to serving the financial services industries, including the banking and insurance sectors. For more information, visit www.ambest.com.
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