Breaking News: Moody’s Investors Service has just upgraded the financial rating of National Life Group to A1 (Good).
This upgrade by Moody’s marks the second upgrade within a month after AM Best upgraded National Life’s financial strength rating to A+ (Superior) on May 19th.
Mehran Assadi, National Life’s Chairman, President and CEO, called the action “a wonderful endorsement of our financial strength.”
In a press release detailing its decision to raise National Life’s rating to A1 (Good), Moody’s said the upgrade reflects “the group’s steadily improving market position in recent years, especially in life insurance, strong financial flexibility, consistent operating profitability while not increasing the risk profile of its assets or liabilities and the company’s commitment to its mutual philosophy (i.e., focus on policyholder value).”
In the announcement, Moody’s also said that National Life:
“Holds a top ten market share in the sale of life insurance and is the second largest provider of indexed universal life insurance policies … It also holds a leading position in the 403(b)-annuity market, serving K-12 teachers.”
“Profitability has remained stable and has strengthened over the last 24 months as a result of strong policyholder persistency (and) prudent expense management.”
National Life’s Comdex rating, which has already increased to 87 on the heels of the AM Best upgrade, will continue to improve with this news from Moody’s.
Moody’s Investors Service ratings as of June 1, 2021.
TC121382(0621)1
