This press release relates to Credit Ratings that have been published on AM Best’s website. The company’s ERM program, headed by the chief risk officer, is a formal, enterprise-wide function reinforced through all levels of the organization and supports its risk appetite. Additionally, the company offers products that are deemed to be low to medium risk, thereby minimizing its product risk profile. Over time, Liberty Bankers Group has demonstrated its strategic organic and inorganic growth capabilities through innovations and acquisitions. Liberty Bankers Group recorded its highest earnings to date in recent periods and AM Best expects the company to maintain current operating levels. Return on equity is approaching double digits and net income has remained positive. However, management has demonstrated the ability to manage these risks appropriately. AM Best notes as offsetting factors the group’s elevated exposure to NAIC 2 bonds, as well as its real estate and mortgage loan portfolios, which increases the company’s investment risk profile. While annuities remain the largest line of business, the life and health insurance lines now have become significant contributors to the group’s operating income. The upgrades also reflect the group’s continued diversification of operations. The rating upgrades are indicative of Liberty Bankers Group’s very strong balance sheet strength assessment, risk-adjusted capitalization, which has been assessed in the strongest category, as measured by Best’s Capital Adequacy Ratio (BCAR), and the company’s adequate reserves. The ratings reflect Liberty Bankers Group’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM). The outlook of these Credit Ratings (ratings) has been revised to stable from positive. We can be reached by email at or by telephone at (888) 503-8267 or (415) 441-8669.OLDWICK, N.J.-( BUSINESS WIRE)- AM Best has upgraded the Financial Strength Rating (FSR) to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) to “a-” (Excellent) from “bbb+” (Good) of Liberty Bankers Life Insurance Company (Oklahoma City, OK), and its wholly owned life insurance subsidiaries, The Capitol Life Insurance Company (Dallas, TX) and American Benefit Life Insurance Company (Oklahoma City, OK), together known as the Liberty Bankers Group.
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If you or a loved one has purchased a deferred annuity from Bankers Life & Casualty Company in recent years in California, please contact Evans Law Firm, Inc., today for a free and confidential evaluation of your rights. Individual litigants may have claims that they can assert in individual lawsuits in California. A federal judge denied the class certification in March 2012. The plaintiffs sought certification of a nationwide class including people who bought certain Bankers Life & Casualty deferred annuities at age 65 or older. The plaintiffs alleged violations of both federal and state laws, including violations the Racketeer Influenced and Corrupt Organizations Act (“RICO”), violations of certain sections of the California Business Code, financial elder abuse under the California Welfare and Institutions Code, breach of fiduciary duty, breach of the implied covenant of good faith and fair dealing, and negligent misrepresentation. The plaintiffs’ complaint alleges that Bankers Life & Casualty solicits, markets, and sells equity-indexed deferred annuities to senior citizens using fraudulent and deceptive sales tactics. In Illinois a putative class action lawsuit was filed against Bankers Life & Casualty in federal court. The company also came under investigation by regulators and had to pay a settlement to insurance regulators after they found that Bankers Life failed to resolve problems with its claim practices. According to Wikipedia, the company’s denial of claims and practices have come under scrutiny in recent years. Bankers Life and Casualty Company touts itself for having a significant amount of retirement products for senior citizens. is a national insurance provider that specializes in products for senior citizens and the retirement market including the sale of deferred annuities and long term care insurance. What Is Considered Elder Abuse and What Isn’t?īankers Life & Casualty Co.Comprehensive Guide to Senior Living & Housing.Resources for False Claim/Qui Tam and Whistleblower Lawsuits.
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