AM Best Upgrades Credit Ratings of Fidelity Security Life Insurance Company and Its Subsidiary

AM Best has upgraded the Financial Strength Rating (FSR) to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to a from a- of Fidelity Security Life Insurance Company (FSL) (Kansas City, MO) and its wholly owned subsidiary, Fidelity Security Life Insurance Company of New York (FLSNY) (Brewster, NY). The outlook of these Credit Ratings (ratings) remains stable. These companies are known collectively as Fidelity Security Group.

The ratings reflect Fidelity Security Groups balance sheet strength, which AM Best categorizes as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.

The groups ratings are supported by its strongest level of risk-adjusted capitalization, as measured by Bests Capital Adequacy Ratio (BCAR), its strong liquidity, and its ability to generate consistent earnings growth and relatively strong statutory returns on equity. FSL primarily markets group stop loss and group vision, but also markets a variety of ordinary life, annuity, and accident and health products across all 50 states through various distribution channels. A mitigating factor in the groups ratings includes its high reinsurance leverage, particularly in its vision business in which a large percentage of the direct premium is ceded to one reinsurance partner. AM Best notes, however, that all reinsurance partners of FSL are highly rated or are distribution-owned captives with full collateralization.

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This press release relates to Credit Ratings that have been published on AM Bests website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Bests Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Bests Credit Ratings. For information on the proper media use of Bests Credit Ratings and AM Best press releases, please view Guide for Media – Proper Use of Bests Credit Ratings and AM Best Rating Action Press Releases.

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Jason MacKenzie
Financial Analyst
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Anthony McSwieney
Senior Financial Analyst
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Christopher Sharkey
Manager, Public Relations
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Jim Peavy
Director, Public Relations
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