Despite the global credit crunch and unprecedented economic pressures,
Banner Life Insurance Company remains among the most financially sound life
insurers. Our conservatively positioned and prudently managed investment
portfolio has served us well during these difficult times. Banner’s portfolio
has no exposure to direct mortgage loans, collateralized debt obligations,
collateralized loan obligations, credit default swaps, owned real estate
or equities investments. What we do own is a highly liquid, well-diversified
investment grade corporate bond and very highly rated structured securities
portfolio.
Banner remains well positioned to weather the economic storm and will continue
to operate in a financially responsible manner. We intend to be here for
the long run, to honor our promises to all our customers and to remain positioned
as a highly rated company.
A.M. Best rates both companies, Banner Life Insurance Company and William Penn Life Insurance Company of New York, A+ (Superior) for financial strength and operating performance. To see a copy of the current A.M. Best brochure which provides information on our rating, click hereThe Best's Rating Report(s) reproduced on this site appear under license from A.M. Best and do not constitute, either expressly or implied, an endorsement of (Licensee)'s products or services. A.M. Best is not responsible for transcription errors made in presenting Best's Rating Reports. Best's Rating Reports are copyright © A.M. Best Company and may not be reproduced or distributed without the express written permission of A.M. Best Company. Visitors to this website are authorized to print a single copy of the Best's Rating Report(s) displayed here for their own personal use. Any other printing, copying or distribution is strictly prohibited. Best's Ratings are under continuous review and subject to change and/or affirmation. To confirm the current rating, please visit the A.M. Best website, www.ambest.com..
Both Banner Life and William Penn Life Insurance Company of New York
hold an A+ (Strong) financial strength rating from
Standard & Poor’s.
At year-end 2009, on a GAAP consolidated basis, Banner had:
- Over $396 billion of life insurance in force
- Over $5.5 billion in assets
- As of December 31, 2009, Banner has:
An investment portfolio that is highly liquid with diversified investment grade corporate bonds and highly rated structured securities:- Portfolio is 97% investment grade.
- Mortgage Backed Securities (MBS) holdings are 60% AAA.
- Collateral Mortgage Backed Securities (CMBS) holdings are 94% A or above with 72% AAA.
- Asset Backed Securities (ABS) holdings are diversified 92% A or above, with 84% AAA.
- No exposure to mortgage loans.
- No exposure to equities.
- No exposure to collateralized debt obligations (CDOs).
- No exposure to collateralized loan obligations (CLOs).
- No exposure to credit default swaps (CDS).
- No owned real estate.
