A.M. Best Co. has affirmed the financial strength rating of B++ (Good) and issuer credit rating of “bbb+” of Concord Heritage Life Insurance Company, Inc. (Concord Heritage Life) (New Hampshire). The ratings have been removed from under review and assigned a stable outlook. These rating actions follow the decision by Liberty Bankers Life Insurance Company (Liberty Bankers Life) (Oklahoma) to withdraw its Form A filing related to its proposed acquisition of Concord Heritage Life.
Concord Heritage Life is a member of the Allstate Financial segment of The Allstate Corporation (Allstate) [NYSE:ALL] (Northbrook, IL). Although Concord Heritage Life is a member of Allstate, its ratings are based upon its stand-alone characteristics and are reflective of its status as a non-core subsidiary. The ratings of the other member companies of Allstate Financial remain unchanged.
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Founded in 1899, A.M. Best Company is a full-service credit rating organization dedicated to serving the financial services industries, including the banking and insurance sectors. For more information, visit www.ambest.com.