Ratings Updates

Entries for June 2010

A few miscellaneous, but important, notes:

·         Lincoln Financial has now repaid their TARP obligations leaving only AIG from the insurance industry that still owe the taxpayers. 

·         Moody's has stated they are "less gloomy" about the life insurance moving forward, and some "stable outlooks" may be in the making.

·         "Stranger-owned" is now moving into the annuity market and, hence, the settlements industry is expanding into that product line.  The debate continues as to how to regulate the settlements industry, even when the transactions are not devised in a fraudulent way as often happens with "stranger-owned" schemes.  At least one company has now modified its policy forms to require an insurable interest on the part of the owner of the contract beyond the issue date of the contract in an attempt to stop stranger-owned transactions.  (Call us if you would like to discuss settlements either for a specific client situation or from a more philosophical perspective.)

 

 Ratings updates for June 2010

 

  

Insurer

AM Best

S&P

Moody's

AEGON Companies including TransAmerica

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Aa3w to A1