Company Maintains A- (Excellent) Rating and Stable Outlook for Third Consecutive Year
DALLAS, Aug. 8, 2024 -- Liberty Bankers Insurance Group (LBIG), a nationally recognized provider of life, health, and wealth products, reaffirmed its financial strength rating (FSR) of A- (Excellent) and its issuer credit rating (ICR) of a- (Excellent) from AM Best for the third year in a row.
The ratings reflect LBIG's balance sheet strength, which AM Best assesses as very strong, in addition to its adequate operating performance, neutral business profile, and appropriate enterprise risk management (ERM).
"AM Best's reaffirmation of our A- Excellent rating showcases the innovative and strategic approach at Liberty Bankers Insurance Group," said Thomas Hayden, vice president of investment strategy at LBIG. "We are proud of the stability of our organization and our outstanding growth year over year."
The AM Best credit report highlights LBIG's financial strength, reporting a record high operating income of $37.5 million and adjusted capital and surplus of $420.5 million. LBIG's total premium income in 2023 was $559.5 million.
AM Best notes that Liberty Bankers continues to expand through new lines of business, revamped product offerings, strategic acquisitions, increased distribution, and a diverse product offering of life, health, and annuity products.
LBIG's ERM program has strengthened through formal policies, risk appetite statements, and transparency throughout the organization.
"Our team utilizes a three lines approach with the board to maintain oversight and input. We aim to align our business practices and LBIG's long-term goals," said John Blocher, chief risk officer, vice president, and actuary at Liberty Bankers Insurance Group.
For the latest Best's Credit Rating, access www.ambest.com.
About Liberty Bankers Insurance Group
Based in Dallas, Texas, Liberty Bankers Insurance Group (LBIG) is a nationally recognized and respected group of insurance companies that offers a variety of life, health, and wealth products. Rated A- Excellent by AM Best, LBIG is comprised of Liberty Bankers Life Insurance Company, Capitol Life Insurance Company, American Benefit Life Insurance Company, and American Monumental Life Insurance Company.
More information is available at www.lbig.com.
Liberty Bankers Insurance Group
Kim Neeley
(800) 731-4300
marketing@lbig.com
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