AM Best affirms A- (Excellent) rating of NGL and revises outlook to positive
National Guardian Life Insurance Company (NGL) is pleased to announce AM Best has revised the outlooks to positive from stable and affirmed its A- (Excellent) rating effective February 28, 2020. This rating reflects the excellent ability of NGL to meet its ongoing insurance policy and contract obligations and further attests to its financial strength.
“Our AM Best rating is pivotal to our future success and is a true measure of NGL’s financial strength and business model effectiveness relative to the industry and our peers. We will continue to enhance our business profile, especially through innovation and a commitment to a digital future, and will seek to optimize our earnings and capital position through prudent financial management and business prioritization,” said Knut Olson, President and Chief Executive Officer at NGL.
AM Best also reaffirmed the A- (Excellent) with Positive Outlook ratings for NGL subsidiaries, Commercial Travelers Life Insurance Company and Settlers Life Insurance Company.
“NGL has more than one hundred years of industry experience with a proven track record of financial strength and stability. In order to continue our long history of success and deliver superior performance to our policyholders, agents and employees, we take a measured approach to allocating capital, managing risk and maximizing operating performance. This allows us to optimize financial outcomes and continue to strengthen our balance sheet which is a key factor in AM Best’s rating criteria,” shared Nancy Stoddard, NGL Senior Vice President, Chief Financial Officer & Chief Actuary.
According to a news release from AM Best, “The revision of the outlooks to positive is driven by improvements in the balance sheet, including a decline in financial leverage, substantial capital and surplus growth, and a continuing conservative investment portfolio.”
AM Best is the world’s oldest and most authoritative insurance rating information source. The financial strength rating is based on a comprehensive quantitative and qualitative evaluation of a company’s balance sheet strength, operating performance and business profile.
As a longtime leader in the insurance industry, NGL is dedicated to serving policyholders and partners by offering high-quality products that are among the safest and most stable in the industry.
To learn more about NGL’s financial strength and stability visit our website, www.nglic.com. For the latest rating, access www.ambest.com.
Since 1909 National Guardian Life Insurance Company (NGL) is an insurance company headquartered in Madison, Wis. Licensed to do business in 49 states and the District of Columbia, NGL markets preneed and individual life and annuities, as well as group markets products. Additional information about NGL can be found at www.nglic.com; Facebook: Facebook.com/NGLIC and LinkedIn: https://www.linkedin.com/company/national-guardian-life-insurance-company
About Commercial Travelers Life Insurance Company
Commercial Travelers Life Insurance Company became a wholly owned, stock subsidiary of National Guardian Life Insurance Company in 2017.
About Settlers Life Insurance Company
A subsidiary of National Guardian Life Insurance Company since 1999, Settlers Life Insurance Company is located in Bristol, Va.
Ratings current as of 02/28/20. National Guardian Life Insurance Company is not affiliated with The Guardian Life Insurance Company of America a/k/a The Guardian or Guardian Life.