AM Best Assigns Credit Ratings to Wysh Life and Health Insurance Company
AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of "a-" (Excellent) to Wysh Life and Health Insurance Company (WLHIC) (Milwaukee, WI). The outlook assigned to the Credit Ratings (ratings) is stable.
The ratings reflect Wysh Life and Health Insurance Company's balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
The ratings also reflect the company's plan of making a capital investment to keep an appropriate level of risk-adjusted capital, as measured by Best's Capital Adequacy Ratio (BCAR), for its direct-to-consumer term life insurance platform, along with regulatory risk-adjusted capital. The company expects to use sponsor-supported affiliated capital in the form of cash contributions.
The company plans to grow through a direct-to-consumer business model for its term life business, without the need for broker or agent interactions as part of the closing process. The business model is to focus on originating term life products to a marketplace that does not have the need or desire to purchase insurance through traditional channels.
This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relatin to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.
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