A.M. Best Upgrades Rating of Standard Life Insurance Company of Indiana; Removes All Ratings From Under Review.OLDWICK, N.J. -- A.M. Best Co. has upgraded the financial strength rating to B+ (Very Good) from B (Fair) of Standard Life Insurance Company of Indiana (Standard Life). A.M. Best has also affirmed af·firm v. af·firmed, af·firm·ing, af·firms v.tr. 1. To declare positively or firmly; maintain to be true. 2. To support or uphold the validity of; confirm. v.intr. the financial strength rating of B (Fair) of Dixie National Life Insurance Company (Dixie National) (both of Indianapolis, IN), a subsidiary of Standard Life. All ratings have been removed from under review with developing implications and assigned as·sign tr.v. as·signed, as·sign·ing, as·signs 1. To set apart for a particular purpose; designate: assigned a day for the inspection. 2. a stable outlook. These rating actions follow the completion of the acquisition of Standard Life and Dixie National by Capital Assurance Corp. (Louisville, KY), effective June 9, 2005. Standard Life sells a variety of annuity annuity: see insurance. annuity Payment made at a fixed interval. A common example is the payment received by retirees from their pension plan. There are two main classes of annuities: annuities certain and contingent annuities. products to retail customers through independent agents in 48 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). . The upgrade of Standard Life's rating reflects its improved financial strength and long-term commitment of its new parent to strengthen Standard Life's risk-adjusted capitalization capitalization n. 1) the act of counting anticipated earnings and expenses as capital assets (property, equipment, fixtures) for accounting purposes. 2) the amount of anticipated net earnings which hypothetically can be used for conversion into capital assets. through earnings and capital growth. These positive factors are partially offset by the company's challenges to manage its exposure to interest rate risks, narrow business profile and debt servicing requirements to support Capital Assurance Corp's debt. For Best's Ratings Best's rating A rating A.M. Best Co. assigns to insurance companies based on the company's ability to meet its obligations to its policyholders. , an overview of the rating process and rating methodologies, please visit http://www.ambest.com/ratings. For current Best's Ratings, independent data and analysis on more than 1,100 individual life/health companies and A.M. Best groups, please visit http://www.ambest.com/lh. A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at http://www.ambest.com. |
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