S&P Affirms Security Benefit Financial Strength “A-“ Rating; Outlook now “Stable”
March 6, 2024 by Security Benefit
TOPEKA, Kan.–(BUSINESS WIRE)–Security Benefit Life Insurance Company (Security Benefit) today announced that major rating agency Standard & Poor’s Global Ratings has affirmed its financial strength rating of “A-“ and revised its outlook to “stable.” S&P maintained its view of the firm’s capital and earnings as “very strong” and again commented favorably on its investment performance while also referencing the management actions executed over the previous two years to further strengthen its balance sheet.
Doug Wolff, CEO of Security Benefit, said “We are pleased that S&P has affirmed our “A-“ rating and believe the change in outlook to “stable” is especially notable. It reflects the strength of our balance sheet, as well as our diversified growth strategy that blends industry-leading investment performance, cost effective and technology-driven administration, an innovative product line up, and our dynamic, nationwide distribution platform that partners with some of the best names in the business.”
“The last two years have been outstanding years for our business, which has generated a lot of positive momentum, and this update from S&P validates that fact,” added Caleb Brainerd, CFO of Security Benefit. “We’re looking forward to sharing our full year 2023 financial results with investors on March 21st.”
Standard & Poor’s is one of the four key credit agencies utilized by Security Benefit to provide an independent assessment of the company’s financial strength. A.M. Best and Fitch also maintain “A-“ financial strength ratings for the company, while DBRS Morningstar maintains an “A” financial strength rating for the firm.
Read the full press release from S&P Global Ratings.
About Security Benefit
Security Benefit Corporation (“Security Benefit”), through its subsidiary Security Benefit Life Insurance Company (SBLIC), a Kansas-based insurance company that has been in business for more than 132 years, is a leader in the U.S. retirement market. Security Benefit together with its affiliates offers products in a full range of retirement markets and wealth segments for employers and individuals and held $50.5 billion in assets under management as of September 30, 2023. Security Benefit, an Eldridge business, continues its mission of helping Americans To and Through Retirement®. Learn more at www.securitybenefit.com and follow us on LinkedIn, Facebook or Twitter.
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Contacts
Michael Castino, Director of Public Relations, Security Benefit
michael.castino@securitybenefit.com
