Printer Friendly

DUFF & PHELPS: KEYPORT LIFE INSURANCE COMPANY CLAIMS PAYING ABILITY RATING REAFFIRMED AT 'AA-'

 CHICAGO, July 9 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has reaffirmed the claims paying ability rating of Keyport Life Insurance Company at `AA-' (Double-A-minus). The rating reflects Keyport's continued success in its core annuity business which is characterized by stable profitability, consistent sales growth, a well managed investment portfolio, and improved operating leverage.
 Keyport Life is a subsidiary of Liberty Financial Companies which is headquartered in Boston, and is ultimately owned by Liberty Mutual Insurance Company. The company specializes in writing single premium deferred annuities (SPDA's) and variable annuities through independent brokers and financial institutions. SPDA's accounted for approximately 85 percent of 1992 premium volume, but the emphasis of future sales growth is in variable annuities.
 At March 31, 1993, Keyport Life reported $9.5 billion in net admitted assets and $489 million in adjusted surplus. For the year ended Dec. 31, 1992, Keyport Life reported statutory after-tax operating profits of $60.4 million on premium volume of $1.0 billion. Operating leverage as measured by the ratio of adjusted liabilities to adjusted surplus was 17.5 times at March 31, 1993, representing an improvement from the yearend 1991 level of 19.5 times.
 -0- 7/9/93
 /CONTACT: James B. Auden, CFA, of Duff & Phelps Credit Rating Co., 312-368-3146/


CO: Keyport Life Insurance Company ST: Massachusetts IN: INS SU: RTG

LR -- NY039 -- 9919 07/09/93 12:39 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 9, 1993
Words:230
Previous Article:MR. T WILL VISIT MILLFORD, CONN. DURING PROMOTIONAL TOUR
Next Article:TERRA INDUSTRIES REPORTS JUNE SALES UP OVER 40 PERCENT
Topics:


Related Articles
DUFF & PHELPS RATINGS: GENERAL AMERICAN LIFE INSURANCE COMPANY; CLAIMS PAYING ABILITY REAFFIRMED AT 'AA'; PARAGON INSURANCE COMPANY
D&P REAFFIRMS SUN LIFE INSURANCE COMPANY OF AMERICA AND ANCHOR NATIONAL LIFE INSURANCE COMPANY CLAIMS PAYING ABILITY AT 'AA'
DUFF & PHELPS: CONFEDERATION LIFE INSURANCE CO.; CONFEDERATION LIFE INSURANCE & ANNUITY CO.; CLAIMS PAYING ABILITY RATINGS LOWERED TO 'AA-'
DUFF & PHELPS: NORTHWESTERN NATIONAL LIFE INSURANCE COMPANY, NORTHERN LIFE INSURANCE COMPANY AND NORTH ATLANTIC LIFE INSURANCE COMPANY CLAIMS PAYING...
DUFF & PHELPS RATES PROTECTIVE LIFE CORPORATION $175 MILLION SENIOR DEBT SHELF REGISTRATION RATED 'A+' (SINGLE-A-PLUS)
DUFF & PHELPS: JOHN HANCOCK MUTUAL LIFE INSURANCE COMPANY CLAIMS PAYING ABILITY RATING REAFFIRMED AT 'AAA'
COMMONWEALTH LIFE INSURANCE COMPANY CLAIMS PAYING ABILITY RATING REAFFIRMED AT 'AA+' COMMERCIAL PAPER REAFFIRMED 'D-1+'
AMERICAN BANKERS INSURANCE GROUP, INC. SENIOR DEBT RATING REAFFIRMED AT 'A-'
DUFF & PHELPS: PENN MUTUAL LIFE INSURANCE COMPANY CLAIMS PAYING ABILITY RATING REAFFIRMED AT 'AA-'
DCR: CENTURY LIFE OF AMERICA CLAIMS PAYING ABILITY RATING UPGRADED FROM 'AA-' TO 'AA'

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters