This marked the second upgrade within a month for National Life. Last month A.M. Best upgraded National Life’s ratings to A+ (Superior). Moody’s raised National Life’s financial strength rating to A1 (Good).
In a press release detailing its decision, Moody’s said the upgrade reflects “the group’s steadily improving market position in recent years, especially in life insurance, strong financial flexibility, consistent operating profitability while not increasing the risk profile of its assets or liabilities and a commitment to the company’s mutual philosophy (i.e., focus on policyholder value).”
Mehran Assadi, National Life’s Chairman, President and CEO, called the action “a wonderful endorsement of our financial strength.”
“Coming on the heels of last month’s upgrade by A.M. Best, today’s action is further evidence by independent analysts that National Life is strong,” he said.
“For a company like ours – where our promise is our product – it’s important that consumers know they can trust us to deliver.”
In its announcement, Moody’s also said that National Life:
“Holds a top ten market share in the sale of life insurance and is the second largest provider of indexed universal life insurance policies… It also holds a leading position in the 403(b)-annuity market, serving K-12 teachers.”
“Profitability has remained stable and has strengthened over the last 24 months as a result of strong policyholder persistency (and) prudent expense management.”
Assadi noted that National Life will celebrate its 175th anniversary in 2023. “We have a storied history, a solid financial foundation, and a clear strategy for serving and growing our client base, now with more than 1 million active clients,” Assadi said.
National Life is here to bring you peace of mind. We’ve been keeping our promises since 1848. Believe in tomorrow, do good today. Learn more at NationalLife.com
Contact: Ross Sneyd, corporate communications, National Life Group, 802.249.7506.
National Life Group® is a trade name of National Life Insurance Company, founded in Montpelier, Vt., in 1848, Life Insurance Company of the Southwest, Addison, Texas, chartered in 1955, and their affiliates. Each company of National Life Group is solely responsible for its own financial condition and contractual obligations. Life Insurance Company of the Southwest is not an authorized insurer in New York and does not conduct insurance business in New York.