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AM Best Assigns Credit Ratings to Wysh Life and Health Insurance Company

July 20, 2021 GMT

OLDWICK, N.J.--(BUSINESS WIRE)--Jul 20, 2021--

AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Wysh Life and Health Insurance Company (WLHIC) (Milwaukee, WI). The outlook assigned to the Credit Ratings (ratings) is stable.

The ratings reflect Wysh Life and Health Insurance Company’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.

The ratings also reflect the company’s plan of making a capital investment to keep an appropriate level of risk-adjusted capital, as measured by Best’s Capital Adequacy Ratio (BCAR), for its direct-to-consumer term life insurance platform, along with regulatory risk-adjusted capital. The company expects to use sponsor-supported affiliated capital in the form of cash contributions.

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The company plans to grow through a direct-to-consumer business model for its term life business, without the need for broker or agent interactions as part of the closing process. The business model is to focus on originating term life products to a marketplace that does not have the need or desire to purchase insurance through traditional channels.

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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 use of Best’s Credit Ratings, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2021 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210720006098/en/

CONTACT: Anthony McSwieney

Senior Financial Analyst

+1 908 439 2200, ext. 5715

anthony.mcswieney@ambest.com

Michael Porcelli

Director

+1 908 439 2200, ext. 5548

michael.porcelli@ambest.comChristopher Sharkey

Manager, Public Relations

+1 908 439 2200, ext. 5159

christopher.sharkey@ambest.com

Jim Peavy

Director, Communications

+1 908 439 2200, ext. 5644

james.peavy@ambest.com

KEYWORD: EUROPE UNITED STATES NORTH AMERICA NEW JERSEY

INDUSTRY KEYWORD: PROFESSIONAL SERVICES INSURANCE FINANCE

SOURCE: AM Best

Copyright Business Wire 2021.

PUB: 07/20/2021 02:22 PM/DISC: 07/20/2021 02:22 PM

http://www.businesswire.com/news/home/20210720006098/en