Published:
A.M. Best Affirms Ratings of Brokers National Life Assurance Company
OLDWICK, N.J. - (BUSINESS WIRE) - A.M. Best Co. has affirmed the financial strength rating of B+
(Good) and issuer credit rating of "bbb-" of Brokers National Life
Assurance Company (Brokers National) (Sherwood, AR). The outlook for
both ratings is stable. Brokers National is a wholly owned subsidiary of BNL
Financial Corporation (Des Moines, IA).
The rating affirmations reflect Brokers National's maintenance of
profitable operating results during difficult economic times while
competing in a very competitive dental insurance market. The company's
operating gains have been the primary contributor to its capital growth.
Brokers National has continued to focus its efforts on increasing
production and distribution through new partnerships. A.M. Best notes
the vast majority of the company's revenue is generated from a single
line of business. Historically, BNL Financial Corporation has been
dependent on dividend payments from Brokers National to help service
previous debt retirement, repurchase of company stock and funding
general corporate expenses.
For Best's Credit Ratings, an overview of the rating process and rating
methodologies, please visit www.ambest.com/ratings.
The principal methodologies used in determining these ratings, including
any additional methodologies and factors that may have been considered,
can be found at www.ambest.com/ratings/methodology.
Founded in 1899, A.M. Best Company is a global full-service credit
rating organization dedicated to serving the financial and health care
service industries, including insurance companies, banks, hospitals and
health care system providers. For more information, visit www.ambest.com.
A.M. Best
Analysts:
Jeffrey Lane,
908-439-2200, ext. 5567
jeffrey.lane@ambest.com
Carl
Austin, 908-439-2200, ext. 5500
carl.austin@ambest.com
or
Public
Relations:
Jim Peavy, 908-439-2200, ext. 5644
james.peavy@ambest.com
Rachelle
Morrow, 908-439-2200, ext. 5378
rachelle.morrow@ambest.com
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