National Guardian Life Insurance Company (NGL) is pleased to announce AM Best has affirmed its A (Excellent) rating effective May 6, 2022. This rating reflects the excellent ability of NGL to meet its ongoing insurance policy and contract obligations and further attests to its financial strength.
“2021 was a pivotal year in NGL’s history. Throughout the year, NGL sold past acquisitions, as well as a variety of older blocks of acquired life insurance policies. These sales raised meaningful capital and helped NGL reach levels of capital that give it unprecedented strength in its 113-year history,” said Knut Olson, President and CEO at NGL.
“Significantly de-risking the liability profile of the company over the last two years and having the highest level of capital measured by AM Best will further allow NGL to make good on policyholder commitments and weather potential economic headwinds that might arise over time. Additionally, we can now selectively explore potential opportunities that add more functionality, product and scale to our core lines of business,” said John Horbal, Senior Vice President, Chief Financial Officer.
According to a news release from AM Best, NGL continues to maintain the strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), which has been bolstered by the sale of several legacy blocks of business. NGL enjoys a market leading position in the preneed life insurance space and continues to look for opportunities to expand sales through alternative channels and new product offerings.
Olson continued, “As we look ahead, NGL is poised to expand its preneed business and make an even greater difference in the death care industry.”
AM Best is the world’s oldest and most authoritative insurance rating information source. The financial strength rating is based on a comprehensive quantitative and qualitative evaluation of a company’s balance sheet strength, operating performance and business profile.
As a longtime leader in the insurance industry, NGL is dedicated to serving policyholders and partners by offering high-quality products that are among the safest and most stable in the industry.
To learn more about NGL’s financial strength and stability visit our website, www.nglic.com. For the latest rating, access www.ambest.com.