Global insurance rating agency A.M. Best has assigned a Financial Strength Rating (FSR) of A (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a” to Renaissance Life & Health Insurance Company of New York (RLHINY), Binghamton, New York. Concurrently, A.M. Best has affirmed the FSR of A (Excellent) and the Long-Term ICR of “a” of Renaissance Life & Health Insurance Company of America (RLHICA), Indianapolis, Ind. The outlook A.M. Best assigned to all these ratings is stable.
“We are pleased that both Renaissance Life & Health Insurance Company of New York and Renaissance Life & Health Insurance Company of America have received financial strength ratings of A from A.M. Best,” says Robert P. Mulligan, President and Chief Executive Officer of Renaissance. “This recognition demonstrates our commitment to strategic growth and will add to the confidence our brokers, members and partners have in Renaissance insurance companies.”
According to A.M. Best, the ratings reflect RLHICA and RLHINY’s balance sheet strength, which A.M. Best categorizes as strongest, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
Renaissance offers dental, vision, life, disability and accident coverage to groups and individuals nationwide. The company acquired the group life, disability and accident insurance division of Binghamton, New York-based Security Mutual Life in December 2017 and immediately began integrating operations. The group life, disability and accident insurance offerings complement existing dental and vision products from Renaissance to position the company as a multi-line ancillary insurance carrier and enable it to better service brokers and employer groups nationwide.
A.M. Best is the oldest and most widely recognized provider of ratings, financial data and news with an exclusive insurance industry focus. For more information, visit A.M. Best’s Recent Rating Activity web page.