Research Update: First Midwest Bancorp Inc. And Operating Subsidiary Ratings Affirmed On Bank Criteria Update; Outlook Stable Dec 11
- Language: English
- Published: December 2011
On Dec. 15, 2011, Standard & Poor's Ratings Services affirmed its 'Bpi' counterparty credit and financial strength ratings on New Era Life Insurance Co. (NELIC) and its subsidiary, New Era Life Insurance Co. of the Midwest (NELIC Midwest). The ratings on NELIC and NELIC Midwest reflect the group's weak capital adequacy and liquidity as measured by our models, and weak operating performance based on its statutory pretax return on revenues and return on assets. The company's high geographic concentration (84% of direct premiums written in Texas) and aggressive investment profile further limit the ratings. NELIC is headquartered in Houston and is a wholly owned subsidiary of New Era Enterprises Inc., a privately owned holding company. In addition to NELIC Midwest,...
Companies mentioned in this report are: New Era Life Insurance Co. (Unsolicited Ratings),New Era Life Insurance Co. of the Midwest (Unsolicited Ratings)
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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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New Era Life Insurance Co. (Unsolicited Ratings),New Era Life Insurance Co. of the Midwest (Unsolicited Ratings)