American Equity Investment Life Insurance Company (AEL) has just received a significant upgrade to its Financial Strength Rating (FSR) from AM Best, moving from “A-” to “A”. This upgrade also extends to AEL’s subsidiaries, including American Equity Investment Life Insurance Company of New York and Eagle Life Insurance Company. This news comes straight from the Chief Executive Officer of AEL, Jeff Lorenzen, who emphasized the company’s dedication to its policyholders and clients. According to Lorenzen, this upgrade reflects AEL’s strong financial standing and strategic plans for future growth.
On the other hand, AM Best has affirmed the FSR of “A” for American National Insurance Company and all of its operating subsidiaries, excluding Garden State Life Insurance Company, which remains under review. Tim Walsh, the Chief Executive Officer of American National Insurance Company, expressed pride in the company’s long-standing history of financial stability. AM Best recently acknowledged American National for maintaining an A rating or better for 83 consecutive years, reinforcing the company’s commitment to providing certainty for its clients.
Both American Equity Investment Life Insurance Company and American National Insurance Company are under the umbrella of American National Group, a collection of companies offering a wide range of insurance products and services across all 50 states. For further details on the latest Best’s Credit Ratings, visit www.ambest.com.
Expert Insights
Financial experts emphasize the importance of these upgraded and affirmed ratings. A higher Financial Strength Rating indicates a stronger ability to fulfill financial obligations and provide security to policyholders. This upgrade positions American Equity Investment Life Insurance Company and its subsidiaries in a more favorable light within the insurance industry, potentially attracting more clients and boosting investor confidence.
Company Background
American Equity Investment Life Insurance Company focuses on providing fixed-rate and fixed-index annuity products through a vast network of independent agents and advisors. With headquarters in Des Moines, Iowa, the company is licensed to operate in all 50 states and the District of Columbia. On the other hand, American National Insurance Company, based in Galveston, Texas, offers a diverse range of insurance products and services nationwide, including life insurance, annuities, health insurance, credit insurance, pension products, and more.
Conclusion
The upgraded Financial Strength Rating for American Equity Investment Life Insurance Company and the affirmed rating for American National Insurance Company signal stability, reliability, and commitment to clients. These developments reflect positively on both companies within the insurance industry, showcasing their dedication to financial strength and long-term sustainability. As customers, these ratings offer assurance of the companies’ ability to meet their insurance needs and provide a sense of security for the future.
