Standard Life Insurance Company of Indiana, Indianapolis, has received its third Financial Strength Rating upgrade in two years from the A.M. Best Company, moving from a B+ with a positive outlook to a B++.
“When Capital Assurance Corporation joined Standard Life in June 2005, the company was B with a negative outlook,” said Dan Gunther, president of Standard Life. “To go from there to B++ in that period is remarkable. It’s testimony to the work we’ve done to set this company in the right direction.”
“Our philosophy is simple – we are the company that does what it says it’s going to do,” said John Franco, chairman and CEO of Capital Assurance Corp. “We committed to the Indiana Department of Insurance and to A.M Best that we would cut costs without cutting jobs, increase investment portfolio yield, revamp our product line to feature more capital-efficient annuities that deliver exceptional customer value and enhance our already-exemplary level of service. We’ve done all of that, and the A.M. Best upgrades are welcome reflections of our progress.”