RENO, Nev., July 1, 2019 /PRNewswire/ -- AMERCO (Nasdaq:
UHAL) announced today A.M. Best, the world's oldest and most
authoritative insurance rating and information source, has revised
the outlook to positive from stable and affirmed the Financial
Strength Rating of A- (Excellent) and the Issuer Credit Rating of
"a-" of its subsidiary Oxford Life Insurance Company (Oxford Life).
These ratings and revised outlook also apply to Oxford Life's
subsidiary, Christian Fidelity Life Insurance. A.M. Best also
affirmed the Financial Strength Rating of B++ (Good) and Issuer
Credit Rating of "bbb" of another Oxford Life subsidiary, North
American Insurance Company.
"We are very pleased that the A.M. Best Company has revised
their rating outlook of Oxford Life to positive," stated
Mark A. Haydukovich, President of
Oxford Life. "The rating outlook change reflects our team's
continued emphasis on providing affordable insurance solutions for
our customer's needs while maintaining operating and fiscal
discipline."
Oxford Life and its subsidiaries provide products and services
that promote the financial security of the rapidly growing senior
market. The group has substantially invested in innovative
initiatives that have allowed for accelerated underwriting,
distribution support and monitoring, and other technology platforms
to provide enhanced automation and product support of previously
manual workflow processes. This strategy has sustained Oxford
Life's profitable growth with consolidated statutory revenue of
$522 million and high quality assets
of $2.3 billion.
Founded in 1965, Oxford Life Insurance Company and its
subsidiaries specialize in providing value-enhanced life, annuity
and Medicare supplement products designed to meet the unique needs
of the middle segment of the senior market through independent
marketing organizations and general agents.
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SOURCE AMERCO