Legal & General America is financially strong, fiscally responsible and committed to the business practices that will allow us to keep our promises to you. Keeping life insurance affordable, protecting your retirement, and providing high quality, efficient customer service are just the fundamentals for us.
The Legal & General America operating companies are among the most financially sound life insurers. Our investment portfolio is conservatively positioned and prudently managed. It's highly liquid and well diversified with approximately 96% investment grade corporate bonds and very highly rated structured securities.1
That's the number of policy owners counting on us to help provide financial security for the people they have so carefully chosen to protect.1
Legal & General America is a top five provider of term life insurance in the US, issuing more than $58 billion in new coverage in 2018. We also issued approximately $844 million in new annuity contracts in 2018 to over 20,500 annuitants. 2
Legal & General America is growing; our life insurance in force is over $734 billion.1
Another testament to our financial strength, the Legal & General America operating companies has over $5 billion in assets at year-end 2018. 3
The capitalization level of a company is particularly meaningful because it measures a company's solvency. It assesses the level of a company's assets available to pay future liabilities; such as current and future policyholder benefits. On this basis, we are particularly strong. The Pure Capital Ratio measures the cushion a company has against a decline in the value of its assets. Our Pure Capital Ratio was 23.6%, more than double the industry average of 11.7%.4
A.M. Best’s financial strength rating is an independent opinion of an insurer’s overall financial strength and ability to meet its ongoing insurance policy and contract obligations. In November 2018, A.M. Best reaffirmed the A+ (Superior) rating for Banner and William Penn. The review noted, "LGA maintains a strong competitive position in the term life market” and “the strongest level of risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR).
Standard & Poor’s has been rating the overall financial strength of insurance companies since 1971; it’s one of the largest global rating organizations in the world. In July 2018, Standard & Poor’s reaffirmed the AA- (Very
Strong) financial strength rating we share with our parent company, assessing our operations as “core” to Legal & General Group.
In May 2018, Fitch Ratings reaffirmed the Insurer Financial Strength (IFS) ratings for Banner and William Penn, at AA- (Very Strong).
The COMDEX is a composite score ranging from 1-100, which averages all of the financial strength ratings a company has received.