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