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

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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 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.

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Business Wire: 14:33 GMT Friday 11th January 2019

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