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Best's Special Report: U.S. Life/Health Sector Credit Rating Upgrades Outnumber Downgrades in 2020


Press release content from Business Wire. The AP news staff was not involved in its creation.
Best’s Special Report: U.S. Life/Health Sector Credit Rating Upgrades Outnumber Downgrades in 2020
March 11, 2021 GMT
OLDWICK, N.J. (BUSINESS WIRE) Mar 11, 2021
Despite the pandemic, the U.S. life/health industry saw positive Credit Rating action in 2020, with the number of downgrades and ratings put under review declining compared with the previous year, according to a new
AM Best report.
The
Best’s Special Report, titled, “Life/Health Rating Upgrades Outnumber Downgrades in 2020,” states that rating upgrades remained essentially flat in 2020, with 28 ratings upgraded versus 10 downgrades for life/annuity (L/A) and health carriers in 2020, compared with 29 upgrades and 19 downgrades in 2019. The positive rating movement was driven primarily by improved levels of risk-adjusted capitalization for life/annuity and health carriers. The vast majority of ....

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AM Best Affirms Credit Ratings of Trustmark Group, Inc. and Its Subsidiaries


Press release content from Business Wire. The AP news staff was not involved in its creation.
AM Best Affirms Credit Ratings of Trustmark Group, Inc. and Its Subsidiaries
March 11, 2021 GMT
OLDWICK, N.J. (BUSINESS WIRE) Mar 11, 2021
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” of Trustmark Insurance
Company
(Lake Forest, IL) and Trustmark Life Insurance Company of New York (Albany, NY) (collectively referred to as Trustmark Group), as well as Trustmark Life Insurance Company (Lake Forest, IL). Concurrently, AM Best has affirmed the Long-Term ICR of “bbb-” of the holding company, Trustmark Group, Inc. (TGI) (Lake Forest, IL), and the Long-Term Issue Credit Rating of “bb” on the $75 million floating rate trust preferred securities ($39 million outstanding), due 2035, issued by Trustmark Finance Trust I. The outlook of these Credit Ratings (ratings) is stab ....

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