SBLI Maintains A- Rating for Financial Strength from S&P
SBLI (The Savings Bank Mutual Life Insurance Company of Massachusetts) today announced that it has once again been rated A- for financial strength with a Stable outlook by Standard & Poor's (S&P).
"We are pleased that in these turbulent times, SBLI continues to be ranked among the most financially sound insurance companies in the country," said SBLI President and CEO James Morgan. "S&P's consistently high rating of the company is a testament to our solid financial foundation and our success in carrying out our historical mission of providing safe, low-cost life insurance."
In affirming SBLI's A- rating for 2020, S&P cited among the company's strengths its "strategic partnerships and expansion of (its) digital channel focused on simplified issue term life and hole life insurance," as well as its "diversified distribution with a mix of captive sales agents, direct marketing, and independent channels."
S&P also noted, "As a smaller, nimble organization, SBLI can move quickly to provide customized products for distribution partners seeking term life and annuity products," adding "The company's omni-channel customer approach, including expanded use of digital applications, which has picked up because of the global pandemic, is better positioning the company for growth."
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