OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating (FSR) of A-
(Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of
“a-” of Cotton States Life Insurance Company (Alpharetta, GA). The
outlook of these Credit Ratings (ratings) is stable. Concurrently, AM
Best has withdrawn the ratings of Cotton States Life Insurance Company
at the company’s request to no longer participate in AM Best’s
interactive rating process.
The rating of Cotton States Life Insurance Company reflects its balance
sheet strength, which AM Best categorizes as very strong, as well as its
marginal operating performance, limited business profile, appropriate
enterprise risk management and partial rating enhancement received from
COUNTRY Financial Property Casualty Group.
AM Best notes that Cotton States ceased issuing new policies in 2013,
effectively placing the company into run-off status. While risk-adjusted
capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR),
remains at the strongest level, premium and earnings trends have
declined in the absence of new business. As there are currently no plans
to begin issuing new business, these trends are expected to continue
over the foreseeable future.
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
Jason MacKenzie
Financial Analyst
+1 908 439
2200, ext. 5649
[email protected]
Thomas Rosendale
Director
+1 908 439 2200,
ext. 5201
[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]
