PRIMERICA FINANCIAL SERVICES' UNDERWRITER UPGRADED BY A.M. BEST; MILICO RATING RAISED TO 'EXCELLENT'
PRIMERICA FINANCIAL SERVICES' UNDERWRITER UPGRADED BY A.M. BEST; MILICO RATING RAISED TO 'EXCELLENT' DULUTH, Ga., June 9 /PRNewswire/ -- Primerica Financial Services' insurance undewriter, Massachusetts Indemnity and Life Insurance Company (MILICO), announced that A.M. Best had upgraded the company's rating level to A- (excellent) from B+ (very good). Best's reported that MILICO's "financial strength was upgraded from very good to excellent" and continued that this upgrade "reflects MILICO's operating progress which has been realized in connection with the strategic restructuring instituted by the current Primerica Corporation executive management, and the company's conservative balance sheet...." "We are extremely pleased that A.M. Best has upgraded MILICO's rating to 'excellent,'" said Edwin M. Cooperman, chairman and chief executive officer of Primerica Financial Services Group. "This upgrade to A- (excellent) is a significant acknowledgment of MILICO's fundamental strength, as well as its efforts to lay a solid foundation for the future." Primerica Financial Services consists of an affiliated group of companies engaged in marketing and administering financial services products, primarily term life insurance underwritten by MILICO. Incorporated in 1927, MILICO is one of North America's leading individual life insurers with more than $300 billion in coverage in force. Primerica Corporation (NYSE: PA) is the parent company of both MILICO and Primerica Financial Services. In order to better reflect this relationship, MILICO is changing its name to Primerica Life Insurance Company, effective July 1. Primerica Corporation is a diversified financial services company with assets of approximately $22 billion. -0- 6/9/92 /CONTACT: Mark L. Supic of Primerica Financial Services, 404-564-6328/ (PA) CO: Primerica Financial Services; Massachusetts Indemnity and Life Insurance Company; Primerica Corporation ST: Georgia IN: INS SU:
EA-BR -- AT003 -- 8395 06/09/92 13:05 EDT
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|Date:||Jun 9, 1992|
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