DES MOINES, IA and HOUSTON, TX — American Equity Investment Life Insurance Company (AEL) today announced that it has received an upgrade to its Financial Strength Rating (FSR) from AM Best to “A” from “A-”. The upgrade is also applied to AEL’s subsidiaries, including American Equity Investment Life Insurance Company of New York and Eagle Life Insurance Company.
Jeff Lorenzen, Chief Executive Officer of AEL said: “AEL's Financial Strength Rating upgrade from AM Best reflects our unwavering commitment to our policyholders and clients. Following the upgrade from S&P Global earlier this year, the “A” rating from AM Best acknowledges our financial strength and stability as we move forward prudently with the goal of continued growth.”
In addition, AM Best has affirmed the FSR of “A” and removed the credit watch for American National Insurance Company and all operating subsidiaries in the group, with the exception of Garden State Life Insurance Company, which remains under review.
Tim Walsh, Chief Executive Officer of American National Insurance Company said: “We are proud of our long history of financial strength and stability. AM Best recently recognized American National for our 83rd consecutive year of achieving an A rating or better; this affirmation of our A rating further demonstrates our commitment and ability to be a source of certainty for our clients.”
Long-Term Issuer Credit Ratings for each entity in the group have been confirmed to be “a” (Excellent).
American Equity Investment Life Insurance Company and American National Insurance Company are wholly owned subsidiaries of American National Group, a group of companies writing a broad array of insurance products and services and operating in all 50 states. For the latest Best's Credit Ratings, access www.ambest.com.