OLDWICK, N.J.–(BUSINESS WIRE)– In the fourth quarter of 2008, A.M. Best Co. revised its rating outlook on the U.S. life/annuity sector to negative from stable as the life insurance industry began to experience instability like never before. Because credit spreads had widened, asset values cratered, equity markets nosedived (led by life insurance stocks), volatility spiked and the capital markets froze, everyone was forced to focus on liquidity at a time when its price was at its peak. Since that time, A.M. Best has observed more favorable trends, and last month, revised its rating outlook on the U.S. life/annuity sector back to stable.
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Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.
A.M. Best Co.
Rosemarie Mirabella, 908-439-2200, ext. 5892
Andrew Edelsberg, 908-439-2200, ext. 5182
Rachelle Morrow, 908-439-2200, ext. 5378
Jim Peavy, 908-439-2200, ext. 5644
Source: A.M. Best Co.