We would love to hear from you. Click on the ‘Contact Us’ link to the right and choose your favorite way to reach-out!

wscdsdc

media/speaking contact

Jamie Johnson

business contact

Victoria Peterson

Contact Us

855.ask.wink

Close [x]
pattern

Industry News

Categories

  • Industry Articles (21,155)
  • Industry Conferences (2)
  • Industry Job Openings (35)
  • Moore on the Market (414)
  • Negative Media (144)
  • Positive Media (73)
  • Sheryl's Articles (800)
  • Wink's Articles (353)
  • Wink's Inside Story (274)
  • Wink's Press Releases (123)
  • Blog Archives

  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • October 2010
  • September 2010
  • August 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010
  • March 2010
  • February 2010
  • January 2010
  • December 2009
  • November 2009
  • October 2009
  • August 2009
  • June 2009
  • May 2009
  • April 2009
  • March 2009
  • November 2008
  • September 2008
  • May 2008
  • February 2008
  • August 2006
  • AM Best Affirms Credit Ratings of Mutual of Omaha Insurance Company and Its Subsidiaries

    March 7, 2023 by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings of “aa-” (Superior) of Mutual of Omaha Insurance Company and its subsidiaries, United of Omaha Life Insurance Company, Companion Life Insurance Company (Melville, NY) and United World Life Insurance Company. Concurrently, AM Best has affirmed the Long-Term Issue Credit Ratings (Long-Term IRs) of “a” (Excellent) of Mutual of Omaha Insurance Company’s surplus notes. (Please see below for a detailed listing of the IRs.) The outlook of these Credit Ratings (ratings) is stable. The group (collectively referred to as Mutual of Omaha) is domiciled in Omaha, NE, unless otherwise specified.

    The ratings reflect Mutual of Omaha’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management (ERM).

    AM Best views Mutual of Omaha’s balance sheet strength as very strong. The group’s risk-adjusted capitalization is assessed at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). The consolidated organization reported favorable growth of its capital and surplus level in 2021, which was driven by earnings and unrealized gains. However, the organization reported a decreased level through third-quarter 2022, impacted by a net loss, unrealized capital losses and a change in reserve valuation. The appropriate level of reinsurance has allowed risk mitigation that assists in the preservation of capital. Mutual of Omaha’s capital position provides support to risks related to insurance and investments on a consolidated basis. AM Best also has noted that the organization’s adjusted financial leverage was maintained at approximately 8.6%, which is considered low, and interest coverage of 5 times in 2021. In addition, operating leverage was within AM Best’s tolerance level. Mutual of Omaha has good financial flexibility and maintains a line of credit through a syndicate of banks, as well as borrowing capacity from the Federal Home Loan Bank of Topeka.

    Mutual of Omaha’s operating performance is viewed as strong by AM Best. The organization continues to report favorable premium growth across nearly all business units, which continued through third quarter 2022. Earnings results in 2021 were lower than the previous year’s record level; however, it did remain favorable. Earnings declined through third-quarter 2022, and was driven by statutory strain of new sales, lower value of equities, corporate-owned life insurance and changing interest rates, as well as weaker mortgage results due to market conditions.

    AM Best views Mutual of Omaha’s business profile as favorable. The organization is well-recognized in the insurance and retirement markets, with a leading market position in Medicare supplement and a top 10 position in the group’s disability and voluntary product segments, as well as in established retirement services. Mutual of Omaha offers a diversified profile of product lines including Medicare supplement, life insurance, annuity, retirement, institutional, long-term care and supplemental health products. As part of a customer focused strategy, the company offers financial products and services principally through five strategic business units. Mutual of Omaha operates in all 50 states, as well as the District of Columbia, Guam, Puerto Rico and the U.S. Virgin Islands.

    Mutual of Omaha’s ERM program is assessed as appropriate by AM Best. The organization has a formal ERM program with an established governance structure. The program is overseen by the board of directors, management and other personnel, and there is an expansion of its risk culture throughout the organization.

    Economic capital modeling is utilized to assess risks and allocate capital based upon and to help support business decisions.

    The following Long-Term IRs have been affirmed with a stable outlook:

    Mutual of Omaha Insurance Company—
    — “a” (Excellent) on $300 million 6.95% surplus notes, due 2040
    — “a” (Excellent) on $300 million 6.80% surplus notes, due 2036
    — “a” (Excellent) on $300 million 4.297% surplus notes, due 2054

    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 Performance Assessments, 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 © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

    Contacts

    Jeffrey Lane
    Senior Financial Analyst
    +1 908 439 2200, ext.5567
    jeffrey.lane@ambest.com

    Christopher Sharkey
    Manager, Public Relations
    +1 908 439 2200, ext. 5159
    christopher.sharkey@ambest.com

    Sally Rosen
    Senior Director
    +1 908 439 2200, ext.5280
    sally.rosen@ambest.com

    Al Slavin
    Senior Public Relations Specialist
    +1 908 439 2200, ext. 5098
    al.slavin@ambest.com

    Originally Posted at Business Wire on March 1, 2023 by AM Best.

    Categories: Industry Articles
    currency