Liberty Bankers Insurance Group's AM Best Financial Strength Rating Reaffirmed

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Aug 15, 2023, 09:00 ET

Company Maintains A- (Excellent) Rating and Stable Outlook

DALLAS, Aug. 15, 2023 /PRNewswire/ -- Liberty Bankers Insurance Group (LBIG), a nationally recognized provider of life, health, and financial products, today announced that AM Best reaffirms its financial strength rating (FSR) of A- (Excellent) and its issuer credit rating (ICR) of a- (Excellent).

The ratings reflect LBIG's balance sheet strength, which AM Best assesses as very strong, in addition to its adequate operating performance, neutral business profile, and appropriate enterprise risk management (ERM).

"AM Best's affirmation of Liberty Banker's A- rating recognizes the outstanding growth of our company's premium income and balance sheet strength," said Brad Phillips, chief executive officer at Liberty Bankers Insurance Group. "This acknowledgement reflects the stability of our organization as we expand to a nationally recognized and respected insurance company."

AM Best notes that Liberty Bankers continues to grow organically through new lines of business and strategic acquisitions. Additionally, it recognizes LBIG's diverse product offering of life, health, and annuity products.

AM Best acknowledges the development of LBIG's ERM program which includes formal policies, risk appetite statements, and transparency throughout the organization.

"We take our commitment to the enterprise risk management program very seriously," said David Vrla, executive vice president, chief actuary, and appointed actuary at Liberty Bankers Insurance Group. "Over the last few years, our team has implemented controls and procedures to ensure our business practices are aligned with the company's long-term goals."

The AM Best credit report highlights LBIG's financial strength, reporting a net income of $16.6 million and total premiums of $657.9 million in 2022.

About Liberty Bankers Insurance Group

Based in Dallas, Texas, Liberty Bankers Insurance Group (LBIG) is a nationally recognized and respected group of insurance companies that offers a variety of life, health, and financial products. Rated A- Excellent by AM Best, LBIG is comprised of American Monumental Life Insurance Company, American Benefit Life Insurance Company, Capitol Life Insurance Company, and Liberty Bankers Life Insurance Company.

More information is available at www.lbig.com.

Liberty Bankers Insurance Group
Kim Neeley
(800) 731-4300
[email protected]

SOURCE Liberty Bankers Insurance Group