OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “a” from “a-” of Royal Neighbors of America (RNA) (Rock Island, IL). The outlook of these Credit Ratings (ratings) has been revised to stable from positive.
The ratings reflect RNA’s balance sheet strength, which AM Best categorizes as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
The rating upgrades reflect RNA’s improved operating performance trends, including premium growth and overall profitable earnings in the past three years. The operating earnings have improved as a result of reduced business strain from the company’s life insurance products. AM Best expects RNA to continue to see a trend of positive earnings in the near term. The rating actions also reflect RNA's long-standing presence as a fraternal society serving women and their family members, as well as its strong risk-adjusted capitalization. With more than 125 years of history, RNA has supported its members with life and annuity insurance programs and fraternal benefits in 42 states through its strong capital and surplus position.
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