AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to a from a- of Royal Neighbors of America (RNA) (Rock Island, IL). The outlook of these Credit Ratings (ratings) has been revised to stable from positive.
The ratings reflect RNAs balance sheet strength, which AM Best categorizes as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
The rating upgrades reflect RNAs improved operating performance trends, including premium growth and overall profitable earnings in the past three years. The operating earnings have improved as a result of reduced business strain from the companys life insurance products. AM Best expects RNA to continue to see a trend of positive earnings in the near term. The rating actions also reflect RNA’s long-standing presence as a fraternal society serving women and their family members, as well as its strong risk-adjusted capitalization. With more than 125 years of history, RNA has supported its members with life and annuity insurance programs and fraternal benefits in 42 states through its strong capital and surplus position.
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 Guide to 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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