Printer Friendly

Pacific Mutual 'Very Pleased' With A.M. Best Ratings

NEWPORT BEACH, Calif., Nov. 25 /PRNewswire/ -- Pacific Mutual Life Insurance Company officials said they are very pleased with the continued A+ (Superior) rating announced by A.M. Best Company today, as well as the addition of a positive outlook for the company by the insurance rating firm. The A+ rating is in the highest category (Superior) and is the second-highest rating in A.M. Best's rating system.

"We are very pleased that Best has recognized our operating performance, capitalization and prominent positions in the group pension and individual life insurance markets in continuing this Superior rating," said Thomas C. Sutton, chairman and chief executive officer at Pacific Mutual.

"We are also pleased that their outlook for our future is positive," he added. Pacific Mutual is the only A+ rated insurer that currently carries this positive outlook in its ratings review, according to A.M. Best.

Best also assigned a first-time stand-alone rating of A (Excellent) to PM Group Life Insurance Company, Pacific Mutual's group employee benefits subsidiary. This is considered to be a particularly good rating for a firm focused exclusively on group life and health products, the company said. The favorable rating reflects PM Group's solid financial performance, strong capitalization and profitable product mix.

Founded in 1868, Pacific Mutual is the largest domestic life and health insurer in California and the 23rd largest life insurance company in the nation. With its subsidiaries and affiliated enterprises, Pacific Mutual has more than $116 billion in total assets and funds under management and is one of the nation's largest financial institutions.

The company provides life and health insurance plans, group employee benefits, individual annuities, and offers a variety of investment products and services to individuals, businesses and pension plans. Pacific Mutual and its affiliated enterprises have 50 of the nation's largest 100 companies as clients.

In addition to the A.M. Best rating, Pacific Mutual is rated AA+ (Excellent) by Standard & Poor's and AA+ (Very High) by Duff & Phelps for its claims-paying ability. It is also rated Aa3 (Excellent) by Moody's for its financial strength.

SOURCE Pacific Mutual Life Insurance Company
 -0- 11/25/96

/CONTACT: Mike Walker or Dave Sanson, 714-361-7520; or Milda Goodman, 714-640-3469/

CO: Pacific Mutual Life Insurance Company; A.M. Best Company ST: California IN: INS SU:

SS-TT -- LAM037 -- 3705 11/25/96 11:53 EST
COPYRIGHT 1996 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1996 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 25, 1996
Previous Article:Consumers Power Company Receives Excellence In Education Award Of Merit
Next Article:Ameritech Offers Solution to Calling Card Gouging at Pay Phones

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters