OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has placed under review with developing implications the
Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit
Rating of “bbb” of LifeShield National Insurance Co. (LifeShield
National) (Oklahoma City, OK).
The Credit Ratings (rating) actions reflect LifeShield National’s recent
announcement of its intent to acquire Individual Assurance Company,
Life, Health & Accident (IAC). In its announcement, LifeShield National
indicated that it would purchase 100% of the ownership interests of IAC
for cash. The transaction is expected to close early in the second or
third quarter of 2019. The ratings, which were last updated in May 2018,
will remain under review pending upcoming discussions with LifeShield
National’s management, including analysis of proforma projections of
capital and earnings, for an assessment of the potential impact on the
company’s current ratings.
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 Understanding
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 rating agency and information provider with a
unique focus on the insurance industry. Visit www.ambest.com
for more information.
Copyright © 2019 by A.M. Best Rating Services, Inc. and/or its
affiliates. ALL RIGHTS RESERVED.
Contacts
Richard Francis
Senior Financial Analyst
+1
908 439 2200, ext. 5152
[email protected]
Edward Kohlberg
Director
+1 908 439 2200,
ext. 5664
[email protected]
Christopher Sharkey
Manager, Public Relations
+1
908 439 2200, ext. 5159
[email protected]
Jim Peavy
Director, Public Relations
+1 908
439 2200, ext. 5644
[email protected]
