A.M. Best Elevates Rating for Local Insurance Company.

A.M. Best Company has announced that it has assigned an A+ ("Superior") rating to Los Angeles headquartered Security First Life Insurance Company, Inc. The A+ grade marks a step up for Security First, which had previously maintained an A rating. Of the more than 1,500 Life and Health companies eligible to be rated by A.M. Best, only 210 carry the A+ "Superior" level rating, placing the local entity among the prestigious top 20% echelon.

To achieve an A+, representatives of MetLife, Security First's parent company, and Security First made their presentations before A.M. Best's rating committee in New Jersey. A.M. Best focused on the integration of Security First into MetLife's operations as a result of the creation of the new MetLife Supplemental Distribution Unit. This integration and the review of the company's data, performance, and operating procedures enabled this upgrade.

"We're extremely proud of our upgraded rating score," said Jamie Shepherdson, co-CEO of Security First Group, Inc., the holding company for Security First Life. "We view an A+ from A.M. Best not only as a reward for the company's efforts, but as an excellent platform from which we will build for the future. The A+ rating is also a message being proactively sent to our Bank and Broker Dealer clients of the high level of quality and commitment that MetLife brings to the table as an enterprise."

Jim Peavy, a spokesperson for A.M. Best, said that the A+ rating assignment also reflects A.M. Best's view that Security First, as a strategic business unit, is "essential to MetLife's ability to achieve its goal of broadening its competitive market position through a branded multi-channel distribution strategy. The rating assignment also anticipates the strategic and financial benefits that are expected to arise from the recent strategic integration of the unit into MetLife's Supplemental Distribution arm, positioning Security First as a wholesale brand targeted at the broker/dealer and financial institution markets."

"A.M. Best expects the additional distribution channel to account for a growing share of MetLife's sales of individual life insurance and asset-accumulation products, and diversified sources of earnings," said Peavy.

"We have been rated an 'A' since 1986," said Richard Pearson, President of Security First Life. "While an 'A' is good, we have had our sights set on obtaining an A+ rating for several years. Being upgraded to this level is a tremendous achievement. It is certainly something for us to be proud of and to work diligently to maintain."

In awarding the A+ rating, the A.M. Best Company issued an announcement stating that the rating reflects Security First's parent company's (MetLife's) "diverse and substantial sources of revenue, the prominent market positions of its principal lines of business and the overall balance that its investment management, property and casualty, and international insurance and financial service subsidiaries provide. A.M. Best also views favorably the company's conservative financial management strategies, as well as its excellent liquidity and strong financial position."

The "Superior" rating also implies that A.M. Best believes Security First has established a strong operating platform that will enable it to compete effectively against other financial service providers.