DUFF & PHELPS: JOHN HANCOCK MUTUAL AND JOHN HANCOCK VARIABLE LIFE INSURANCE COMPANY CLAIM PAYING ABILITY RATING REAFFIRMED AT 'AAA'
CHICAGO, June 7 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has reaffirmed the claims paying ability rating of John Hancock Mutual Life Insurance Company (John Hancock) at `AAA' (Triple-A). The rating reflects the company's large capital base, significant customer franchise, reasonable operating leverage, and strong business lines. Duff & Phelps has also reaffirmed the claims paying ability rating of John Hancock's wholly owned subsidiary, John Hancock Variable Life Insurance Company (John Hancock Variable) at `AAA'. The rating is based on the strength and support of the parent. John Hancock is a one of the nation's largest mutual life insurance companies with admitted assets of $40.6 billion and adjusted surplus of $2.4 billion at March 31, 1993. John Hancock is a leading provider of individual life insurance and annuities, group pension products, and group life and health insurance. In addition, the company provides other financial services including mutual fund management, stock brokerage, and personal lines property and casualty insurance. John Hancock Variable is a wholly owned subsidiary of the mutual company with admitted assets of $2.4 billion (including $1.6 billion in separate accounts) and adjusted surplus of $266 million at March 31, 1993. This subsidiary sells individual variable life and universal life products. John Hancock Variable is managed as part of John Hancock's individual life insurance and annuities operation. -0- 6/7/93 /CONTACT: Julie A. Burke, CPA, 312-368-3144, of Duff & Phelps Credit Rating Co./
CO: John Hancock Mutual Life Insurance Company ST: IN: INS SU: RTG
LR -- NY043 -- 5991 06/07/93 11:35 EDT
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|Date:||Jun 7, 1993|
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