AM Best Revises Outlooks to Stable for Individual Assurance Company, Life, Health & Accident; LifeShield National Insurance Co.

AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Ratings of “bbb” (Good) of Individual Assurance Company, Life, Health & Accident and LifeShield National Insurance Co., collectively referred to as LifeShield. Both companies are domiciled in Oklahoma City, OK.

The Credit Ratings (ratings) reflect LifeShield’s balance sheet strength, which AM Best assesses as strong, as well as its marginal operating performance, limited business profile and appropriate enterprise risk management.

The revised outlooks to stable from negative reflect an improvement in LifeShield’s operating performance, driven by a reduction in underwriting losses. The group’s surplus position has declined in recent years due to volatility in operating performance associated with elevated loss ratios on the worksite product. Following rate increases in 2023, loss ratios have improved for the worksite line of business. Underwriting losses declined significantly, and the group approached break-even from a net income perspective in 2024. With risk-adjusted capitalization at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR), current capital levels are considered sufficient to support the group’s insurance liabilities. AM Best will continue to monitor LifeShield’s operating performance and its impact to the strength of the balance sheet.

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 Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

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