Nationsbanc Insurance Co. Inc. 'Api' Financial Strength Rating Affirmed Apr 01
- ID: 1791641
- April 2001
- Standard & Poors
NEW YORK (Standard & Poor's CreditWire) April 6, 2001--Standard & Poor's today affirmed its single-'Api' financial strength rating on NationsBanc Insurance Co. Inc. Key rating factors include the company's extremely strong capitalization, excellent liquidity, and positive operating results (with the exception of 1998 operating results), partially offset by volatility in its premium revenues. Headquartered in Charlotte, N.C., the company writes mainly credit life, group life, and credit accident & health insurance coverage, issued in conjunction with consumer credit transactions developed through its affiliated lending institutions and distributed primarily through agents. On Jan. 10, 1998, Barnett Banks Insurance Inc., was dissolved, and its assets and liabilities were retroceded to American Heritage Life Insurance Co. and then immediately assumed by Nationsbanc Insurance...
Companies mentioned in this report are:
- Nationsbanc Insurance Co. Inc.
- Bank of America Corp.
- American Heritage Life Insurance Co.
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