Foresters Insurance | A.M. Best Upgrades Ratings of Foresters Life Insurance Company

A.M. Best Co. has upgraded the financial strength rating (FSR) of Foresters Life Insurance Company to A (Excellent) from A- (Excellent) and issuer credit rating (ICR) to “a” from “a-” of Foresters Life Insurance Company. A.M. Best has also affirmed the FSR of A (Excellent) and ICR of “a+” of Foresters, and affirmed the FSR of A- (Excellent) and ICR of “a-” of First Investors Life Insurance Company. The outlook for all ratings is stable.

A.M. Best attributes the upgrade of ratings for Foresters Life to “the enhanced importance the company has to Foresters. This is demonstrated by the increased marketing and expense synergies that Foresters Life has with Foresters and its role in increasing the group’s revenue contribution from the Canadian market. Going forward, A.M. Best expects Foresters Life to continue to benefit from the financial strength and implied support of Foresters’ fraternal organization.”

“We’re very pleased that A.M. Best has acknowledged the importance of Foresters Life in the Foresters organization,” says Sharon Giffen, President & CEO, Foresters Life Insurance Company. “We’re well positioned to build on our success and to help Foresters continue to deliver on its purpose to build strong families and communities.”

A.M. Best notes that Foresters’ ratings reflect its long-established fraternal and insurance presence in the Canadian and U.S. marketplace, its strong risk-adjusted capitalization and positive operating results, despite the continued low interest rate environment. It also notes that Foresters has a strong affinity with its membership base through its charitable programs and competitive portfolio of life insurance and annuity products.

Press Release: Foresters A.M. Best Rating

A.M. Best Company’s Ratings: www.ambest.com