AM Best Revises Outlooks to Positive for Royal Neighbors of America
OLDWICK, N.J.--(BUSINESS WIRE)--Dec 18, 2019--
AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” of Royal Neighbors of America (RNA) (Rock Island, IL).
The Credit Ratings (ratings) reflect RNA’s balance sheet strength, which AM Best categorizes as strongest, as well as its marginal operating performance, neutral business profile and appropriate enterprise risk management (ERM).
The revision of the outlooks to positive reflects RNA’s improving operating performance trends including premium growth and overall profitable earnings in 2018 and through 2019. The operating earnings have improved as a result of reduced business strain from the company’s life insurance products. AM Best expects RNA to continue to see a trend of positive earnings in the near term.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper media use of Best’sCredit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
AM Best is a global credit rating agency, news publisher and data provider specializing in the insurance industry. The company does business in more than 100 countries. Headquartered in Oldwick, NJ, AM Best has offices in cities around the world, including London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
Copyright © 2019 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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KEYWORD: EUROPE UNITED STATES NORTH AMERICA NEW JERSEY
INDUSTRY KEYWORD: FINANCE BANKING PROFESSIONAL SERVICES OTHER PROFESSIONAL SERVICES INSURANCE
SOURCE: AM Best
Copyright Business Wire 2019.
PUB: 12/18/2019 02:41 PM/DISC: 12/18/2019 02:41 PM