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A.M. Best Reaffirms Fidelity Life's Credit
Rating
Fidelity Life has retained its A-(Excellent) credit
rating from A.M. Best, the world's oldest and most
authoritative insurance rating and information source.
The rating has now remained unchanged since December 1996.
A.M. Best also commented on the substantial growth of Fidelity
Life's capital and surplus in the past five years at an
average annual rate of 22.9%. "Fidelity Life has experienced
strong profitability and business growth. Gross risk premiums
have grown at an average annual rate of 11.9% for the past five
years".
In their 2007 review, A.M. Best states "A.M. Best views
positively Fidelity's acquisition of Farmers' Mutual Life
Limited (FMLL), which has given Fidelity an enlarged asset
base and a new source of premium. The new distribution
partnership has also provided Fidelity with greater access to
regional customers."
Comments from previous reports include:
"Fidelity Life's risk adjusted capitalization, as measured by Best's
Capital Adequacy Model, has improved over the past financial year.
Good operating earnings and disciplined investing have contributed to the
company's improved capital position". A.M. Best Company 2006
"A.M. Best praises Fidelity Life's
consistent profitability, conservative investment portfolio
and stable business growth. It also highlights Fidelity
Life's asset allocation and their investment
strategy". A.M. Best Company 2005.
"A.M.Best also views favourably the company's
management track record, which is reflected both in its
earnings consistency and financial strength". A.M.
Best Company 2004.
"Fidelity Life places strong focus on innovative
product development and continual improvement to its
range of risk products and investment returns. In
addition, Fidelity Life has the protection and support of a
comprehensive reinsurance program placed with global
reinsurers". A.M. Best Company 2002.
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