A.M. Best Upgrades Zurich Kemper Life Companies to A+ From A.OLDWICK, N.J.--(BUSINESS WIRE)--Nov. 4, 1999-- A.M. Best Co. today upgraded the financial strength ratings of the Zurich Kemper Kemper may refer to:
The rating action reflects the U.S.-based insurance group's enhanced financial flexibility, efficient and low-cost operating structure and improving earnings performance and balance sheet. The ratings also are based on the strategic role of Zurich Kemper Life as a core operating segment of Zurich Financial Services Zurich Financial Services Group is a major financial services group based in Zurich, Switzerland. Global operations North America The US consumer market is served primarily by Farmers Insurance Group the third largest personal lines property & casualty insurance , Zurich, Switzerland Switzerland (swĭt`sərlənd), Fr. Suisse, Ger. Schweiz, Ital. Svizzera, officially Swiss Confederation, federal republic (2005 est. pop. 7,489,000), 15,941 sq mi (41,287 sq km), central Europe. . Zurich Financial is among the world's five leading insurers, with total premium income in 1998 of U.S. $28.4 billion, and a market leader in each of its four core businesses: property casualty, life insurance, reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. and asset management. The Zurich Kemper Life companies benefit from common management, shared administrative processes (including systems, legal and customer service) and integrated distribution. This integration has led to operating efficiencies, controlled costs, increased productivity and, ultimately, improved profitability. Zurich Kemper Life provides the Zurich Financial Services Group with an efficient life insurance platform from which to achieve its strategic objectives in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The Zurich Kemper Life companies operate as low-cost providers of term life insurance and retirement products, particularly in the variable annuity Variable Annuity An insurance contract in which, at the end of the accumulation stage, the insurance company guarantees a minimum payment. The remaining income payments can vary depending on the performance of the managed portfolio. market. With the full integration of Zurich Life Insurance Company of America, the group's distribution capabilities are enhanced by the direct marketing capabilities of Zurich Direct. Offsetting these positive rating considerations is A.M. Best's belief that Zurich Kemper Life may experience difficulty in further diversifying and expanding its distribution, particularly given its operating focus as a product manufacturer and as a result of the highly competitive nature of the markets in which they operate. However, A.M. Best believes the strategic and financial commitment, which has already been demonstrated by the Zurich Financial Services Group, should give the Zurich Kemper Life companies support it needs to increase its marketing momentum and expand the product offerings of its highly competitive businesses. A.M. Best Co., established in 1899, is the world's oldest and most widely recognized insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com. |
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