AM Best Places Credit Ratings of Unified Life Insurance Company Under Review With Developing Implications Following Its Acquisition
2024年7月13日 - 1:12AM
ビジネスワイヤ(英語)
AM Best has placed under review with developing
implications the Financial Strength Rating of B (Fair) and the
Long-Term Issuer Credit Rating of “bb+” (Fair) of Unified Life
Insurance Company (Unified Life) (headquartered in Overland Park,
KS).
The Credit Ratings (ratings) reflect Unified Life’s balance
sheet strength, which AM Best assesses as adequate, as well as its
adequate operating performance, limited business profile and
marginal enterprise risk management.
This rating action follows Unified Life’s acquisition this year
by Obra Insurance Holdings, LLC, a subsidiary of Obra Capital, Inc.
AM Best has placed these ratings under review with developing
implications to allow its analytical team sufficient time to fully
evaluate Unified Life’s new business plan, which is likely to be
materially different going forward. The ratings will remain under
review with developing implications until AM Best completes its
evaluation of the new parent, as well as its revised strategic
plans and projections for Unified Life.
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. For more information,
visit www.ambest.com.
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John McGlynn Senior Financial Analyst +1 908
882 2106 john.mcglynn@ambest.com
Christopher Sharkey Associate Director, Public
Relations +1 908 882 2310
christopher.sharkey@ambest.com
Joseph Zazzera Director +1 908 882 2442
joseph.zazzera@ambest.com
Al Slavin Senior Public Relations Specialist +1
908 882 2318 al.slavin@ambest.com