DES MOINES, Iowa and HOUSTON, Dec. 03, 2024 (GLOBE NEWSWIRE) -- 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. AEL is financially strong and poised to 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.
Contact:
American National
Scott Campbell
SVP, Corporate Communications
Scott.Campbell@AmericanNational.com
American Equity
Kelly Woerdehoff
Kelly.Woerdehoff@American-Equity.com
515.577.2750
ABOUT AMERICAN EQUITY
American Equity Investment Life Insurance Company is a leading provider of fixed rate and fixed index annuity products with over 40,000 independent agents and advisors affiliated with independent market organizations (IMOs), banks and broker-dealers. American Equity is headquartered in Des Moines, Iowa and is licensed to sell in 50 states and the District of Columbia. For more information, please visit https://www.american-equity.com/.
ABOUT AMERICAN NATIONAL
American National is a group of companies writing a broad array of insurance products and services and operating in all 50 states. American National Insurance Company was founded in 1905 and is headquartered in Galveston, Texas. Life insurance, annuities, health insurance, credit insurance, pension products, and other products and services are written through multiple companies. Property and casualty insurance is written through American National Property And Casualty Company, Springfield, Missouri, and affiliates. In New York, business is written through Farm Family Casualty Insurance Company, United Farm Family Insurance Company, and American National Life Insurance Company of New York, Glenmont, New York. Not all products and services are available in all states. Not all companies are licensed in all states. Each company has financial responsibility for only the products and services it issues. For more information, please visit AmericanNational.com.