Research Update: Fidelity Security Life Insurance Co. 'BBBpi' Ratings Affirmed Dec 11

  • ID: 2033427
  • December 2011
  • Standard & Poors
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On Dec. 15, 2011, Standard & Poor's Ratings Services affirmed its 'BBBpi' counterparty credit and financial strength ratings on Fidelity Security Life Insurance Co. (FSL). The ratings on FSL are based on the company's good capital adequacy, as measured by our model, and steadily improving operating performance based on its pretax return on revenue. Return on revenue through the first half of 2011 was 10.8%, compared with 7.8% for 2010 and 3.9% in 2009. Offsetting these strengths is the company's limited business profile, which is highly concentrated in the highly regulated group accident and health segment (about 74% of net written premiums in 2010). Another limiting factor to the rating is FSL's marginal, but improving, liquidity ratio, which increased to...

Companies mentioned in this report are: Fidelity Security Life Insurance Co. (Unsolicited Ratings)
Action: Affirmed

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.

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Fidelity Security Life Insurance Co. (Unsolicited Ratings)

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