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AM Best Removes From Under Review With Positive Implications and Upgrades Issuer Credit Rating of Gerber Life Insurance Company

January 11, 2019

OLDWICK, N.J.--(BUSINESS WIRE)--Jan 11, 2019--AM Best has removed from under review with positive implications and upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “a+” from “a” of Gerber Life Insurance Company (Gerber Life) (White Plains, NY). Additionally, AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) of Gerber Life. The outlook assigned to these Credit Ratings (ratings) is stable.

The ratings reflect Gerber Life’s balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

The ratings also reflect lift from Gerber Life’s ultimate parent company, Western & Southern Financial Group, Inc. (WSFG), which acquired Gerber Life in December 2018. AM Best expects WSFG to provide capital support when necessary. Additionally, the acquisition includes the Gerber Life name and logo, as well as the company’s direct-to-consumer distribution capabilities. The life insurance subsidiaries of WSFG (collectively known as Western & Southern Financial Group) have an FSR of A+ (Superior) and Long-Term ICRs of “aa”.

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 web page. For additional information regarding the use and limitations of Credit Rating opinions, please view . For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view .

AM Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit for more information.

Copyright © 2019 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/20190111005213/en/

CONTACT: Louis Silvers

Senior Financial Analyst

+1 908 439 2200, ext. 5802

louis.silvers@ambest.com

Kate Steffanelli

Senior Financial Analyst

+1 908 439 2200, ext. 5063

kate.steffanelli@ambest.com

Christopher Sharkey

Manager, Public Relations

+1 908 439 2200, ext. 5159

christopher.sharkey@ambest.com

Jim Peavy

Director, Public Relations

+1 908 439 2200, ext. 5644

james.peavy@ambest.com

KEYWORD: UNITED STATES EUROPE NORTH AMERICA NEW JERSEY

INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE INSURANCE

SOURCE: AM Best

Copyright Business Wire 2019.

PUB: 01/11/2019 09:33 AM/DISC: 01/11/2019 09:32 AM

http://www.businesswire.com/news/home/20190111005213/en

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