National Life’s financial strength rating has been upgraded by a ratings agency for the second time in just a month.
This time Moody’s Investor Service weighed in and boosted the ratings of the insurance companies of National Life to A1 (Good).
That follows the boost from just last month by A.M. Best, which upgraded National Life to A+ (Superior).
CEO Mehran Assadi calls the latest boost “a wonderful endorsement of our financial strength.”
Moody’s said in an announcement that its upgrade reflects “
the group’s steadily improving market position in recent years, especially in life insurance, strong financial flexibility, consistent operating profitability while not increasing the risk profile of its assets or liabilities and a commitment to the company’s mutual philosophy (i.e., focus on policyholder value).”
There seems to be a trend here. A.M. Best praised our balance sheet strength when it upgraded us last month and also commended our product lines.”
Moody’s pointed out that National Life holds a top 10 market share in the sale of life insurance, is the second largest provider of indexed universal life and holds a “leading position” in the 403(b) market.
“Coming on the heels of last month’s upgrade by A.M. Best, today’s action is further evidence by independent analysts that National Life is strong,” Mehran said. “For a company like ours – where our promise is our product – it’s important that consumers know they can trust us to deliver.”