AM Very best Affirms Credit rating Rankings of Securian Economical Group, Inc. and Its Subsidiaries

OLDWICK, N.J.–(Business enterprise WIRE)–Dec 18, 2020–

AM Greatest has affirmed the Fiscal Toughness Ranking (FSR) of A+ (Remarkable) and the Very long-Time period Issuer Credit score Rankings (Prolonged-Expression ICR) of “aa” of Minnesota Daily life Insurance Organization and its subsidiary, Securian Lifestyle Insurance policy Firm, together referred to as Securian Economical Insurance policies Team (Securian). AM Finest also has affirmed the FSR of A (Exceptional) and the Long-Term ICR of “a+” of Securian Casualty Corporation (Securian Casualty), and the FSR of A (Superb) and the Prolonged-Expression ICR of “a” of Canadian Premier Lifestyle Insurance plan Firm (Canadian Premier) (Toronto, ON).

Concurrently, AM Most effective has affirmed the Extensive-Expression ICR of “a” of Securian Economic Group, Inc. (SFG) (Delaware) and the Extensive-Time period Problem Credit history Score (Lengthy-Term IR) of “a” of SFG’s $500 million, 4.8% senior unsecured notes, thanks 2048. AM Very best also has affirmed the Very long-Expression IR of “a+” on the $125 million, 8.25% surplus notes, because of 2025, issued by Minnesota Lifetime Coverage Corporation. The outlook of all of the aforementioned Credit score Rankings (scores) is steady. All providers named higher than are headquartered in St. Paul, MN, other than in which specified.

The rankings replicate Securian’s harmony sheet toughness, which AM Ideal categorizes as strongest, as well as its solid functioning effectiveness, favorable business profile and proper enterprise danger management (ERM).

Securian’s chance-modified capitalization, as calculated by Best’s Funds Adequacy Ratio, is assessed as strongest, and supports the group’s insurance plan, organization and financial investment threats. Top quality of capital is very good, supported by retention of its XXX/AXXX reserves. Securian’s monetary leverage and desire coverage metrics are supportive of its scores. Invested property are of high credit rating quality, with great sector diversification and modest allocations to greater chance assets. Earnings trends have been generally secure, though there have been some fluctuations throughout lines of company. There is also great diversification of earnings between mortality, distribute margins and rate profits. Premium advancement has been robust and favorable as opposed with lifetime sector averages. Also, the group retains leading positions in the markets in which it operates. Finally, the business also advantages from diversification supplied by Securian’s holding corporation, SFG, which contains the asset management and distribution corporations, along with its insurance coverage functions.

The rankings of Securian Casualty mirror its balance sheet power, which AM Best categorizes as extremely potent, as perfectly as its enough functioning effectiveness, neutral small business profile and appropriate ERM. Securian Casualty has proven itself as a considerable competitor in the contractual legal responsibility industry, and continues to leverage its means to guidance foreseeable future merchandise and current market expansions. In the latest a long time, Securian Casualty has focused on case management, which has more stabilized hazard-altered capitalization and working returns.

The ratings of Canadian Premier replicate its equilibrium sheet strength, which AM Best categorizes as extremely powerful, as effectively as its ample running performance, neutral small business profile and proper ERM. Considering that remaining obtained in 2017, Canadian Premier continues to be built-in into the Securian organization, as its business enterprise profile shifts towards credit rating small business. Even though the business has documented constructive earnings developments, its overall contribution to the team is modest. In addition, the ratings replicate its strategic worth and assist from its mother or father.

This push launch relates to Credit score Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, like specifics of the office environment liable for issuing each of the specific scores referenced in this release, remember to see AM Best’s Recent Rating Action internet web site. For more information concerning the use and limitations of Credit Ranking views, make sure you check out Information to Best’s Credit rating Ratings. For information and facts on the proper media use of Best’s Credit rating Scores and AM Greatest press releases, remember to view Guidebook for Media – Suitable Use of Best’s Credit rating Rankings and AM Ideal Ranking Action Push Releases.

AM Greatest is a world credit score rating agency, information publisher and knowledge analytics company specializing in the insurance coverage industry. Headquartered in the United States, the corporation does organization in around 100 countries with regional workplaces in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico Metropolis. For additional information and facts, check out www.ambest.com.

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PUB: 12/18/2020 11:03 AM/DISC: 12/18/2020 11:03 AM

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