FITCH ISSUES INVESTORS HERITAGE ‘BBB-’ RATING WITH STABLE OUTLOOK
July 14, 2021 – Frankfort, KY – Fitch Ratings announced last week that it had published its first public Insurer Financial Strength (IFS) rating of ‘BBB-’ for Investors Heritage Life Insurance Company (“Investors Heritage”), an investment grade rating, with a rating outlook of Stable.
Fitch called Investors Heritage’s capitalization “strong,” with capital levels “well above their rating category,” scoring in the “Extremely Strong” category of Fitch’s Prism capital model, in line with Fitch’s “aaa” guidelines, based on YE 2019 data. The ratings agency also noted that Investors Heritage “continues to transform from a regional pre-need and final expense benefits provider into a national annuity writer following its acquisition by Aquarian Holdings.”
Investors Heritage has extended its geographic market reach as well as increased its product offering since the 2018 acquisition. In April, Investors Heritage launched the Heritage Income Advantage, its first fixed index annuity, expanding its retirement solutions platform, which launched a multi-year guaranteed annuity – the Heritage Builder – in 2018. Last year, the company also refreshed its line of preneed products with the Canopy Preneed suite.
“We are pleased that Fitch has recognized our continuing efforts to diversify our business, support our strong financial base, and deliver exceptional products and services to our customers,” said Robert M. Hardy, Jr., Chief Executive Officer of Investors Heritage. “We believe we are well positioned for longterm, sustainable growth and this rating reflects that reliable foundation we are built on.”
Read the release from Fitch Ratings release: https://www.fitchratings.com/research/insurance/fitchpublishes-bbb-ifs-for-investors-heritage-life-insurance-company-07-07-2021
Investors Heritage celebrated the 60th anniversary of its first policy sale in April, noting that the insured of the company’s first policy issued is still a policyholder today.
About Investors Heritage
Investors Heritage Life Insurance Company offers its policyholders a wide range of insurance solutions backed by a track record of exceptional service. Founded in 1960 and headquartered in Frankfort, Kentucky, the company has a rich and growing tradition of providing tools to help people build and manage their legacies as a leader in preneed and final expense policies, and through its new retirement and wealth management offerings. For more information, please visit https:// investorsheritage.com/.
About Aquarian Holdings
Aquarian Holdings is a diversified holding company with interests in businesses including insurance, asset management, real estate, and technology. We draw on our decades of collective experience to provide debt and equity capital solutions that meet the objectives of our partners and portfolio companies. For more information, please visit www.aquarianlp.com.