Fixed Annuity Sales Boost Ratings

According to a company press release, Kansas City Life Insurance Company is stable and remains strong.  In “A.M. Best Affirms Ratings of Kansas City Life Insurance Company and Its Subsidiaries,” their financial strength rating of A (Excellent) and their issuer credit rating of “a” were affirmed.  Kansas City Life Insurance Company’s subsidiary, Sunset Life Insurance Company of America, also had its issuer credit rating of “a” affirmed.  The company’s subsidiary Old American Insurance Company had its outlook increased from stable to positive and its financial strength rating of B++ (Good) and issuer credit rating of “bbb+” affirmed.

Kansas City Life sells life insurance, variable and fixed annuities, and group accident, health and life insurance products.  Their fixed annuity sales increased significantly, which helped to offset a decrease in the sales of ordinary life insurance products.  A.M. Best recognizes a challenging environment ahead for Kansas City Life as market conditions decrease for fixed annuities and life and group insurance products.  Subsidiary Old American’s positive outlook is based on its recent new business sales and excellent opportunities for growth based on an increasing market of seniors.

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