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AM Best Assigns Credit Ratings to Members of ReliaStar Life Insurance Group

May 9, 2019

OLDWICK, N.J.--(BUSINESS WIRE)--May 9, 2019--AM Best has assigned a Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a+” to ReliaStar Life Insurance Company of New York (Woodbury, NY) and ReliaStar Life Insurance Company (Minneapolis, MN) collectively known as ReliaStar Life Insurance Group (ReliaStar). The outlook assigned to these Credit Ratings (ratings) is stable. Both companies are life insurance subsidiaries of Voya Financial, Inc., which is headquartered in New York, NY.

The ratings reflect ReliaStar’s balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, neutral business profile, appropriate enterprise risk management, and the financial strength of its parent, Voya Financial, Inc.

Voya Financial, Inc. ceased new individual life insurance sales as of Dec. 31, 2018, and sold its closed block variable annuity and individual fixed annuity segments in 2018. ReliaStar still maintains a presence selling employee benefits insurance products.

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 Understanding Best’s Credit Ratings . For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases .

AM Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit www.ambest.com 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/20190509005951/en/

CONTACT: Louis Silvers

Senior Financial Analyst

+1 908 439 2200, ext. 5802

louis.silvers@ambest.comChristopher Sharkey

Manager, Public Relations

+1 908 439 2200, ext. 5159

christopher.sharkey@ambest.comKenneth Johnson, CFA, CAIA, FRM

Senior Director

+1 908 439 2200, ext. 5056

ken.johnson@ambest.comJim 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 INSURANCE

SOURCE: AM Best

Copyright Business Wire 2019.

PUB: 05/09/2019 04:11 PM/DISC: 05/09/2019 04:10 PM

http://www.businesswire.com/news/home/20190509005951/en