p Mormon News 18Jan02:LDS Church-owned Beneficial Life Maintains

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News about Mormons, Mormonism,
and the LDS Church
Sent on Mormon-News: 22Jan02
By Kent Larsen
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LDS Church-owned Beneficial Life Maintains Insurance Rating

CHICAGO, ILLINOIS -- Beneficial Life Insurance Co. has had its 'AA-' financial rating renewed by the insurance rating company Fitch. The rating, based on the company's overall financial strength, is used by customers and insurance agents in assessing an insurers ability to pay benefits. The outlook for changes in the rating is listed as 'stable.'

According to the report, Beneficial Life is a moderately sized stock life insurance company with total admitted assets of $2.1 billion and an adjusted surplus of $189 million as of September 30, 2001. The rating company said that Beneficial's capitalization is conservative.

The company's financial policies include contributing 10% of taxable income to charity each year. However, the insurance rating company challenged Beneficial to grow its group life business, which is currently a modest percentage of its total business.


Fitch Affirms Beneficial Life's 'AA-' Rating
Business Wire 16Jan02 B3


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