June 16, 2008
A.M. Best Assigns Ratings to American Continental Insurance Company
A.M. Best has assigned a financial strength rating of "A-" Excellent* and an issuer credit rating of "A-" to American Continental Insurance Company (American Continental), a wholly owned indirect subsidiary of Genworth Financial, Inc.
According to A.M. Best, American Continental's ratings reflect its position as the primary Medicare Supplement product platform for Genworth. It also acknowledges the financial flexibility and access to resources resulting from its ownership by Genworth. A.M. Best believes that Genworth's balance sheet has a manageable amount of financial leverage that can be comfortably serviced from the earnings currently generated by its insurance operations.
Michael Atchison, American Continental, Senior V.P. Sales, stated, "This is very exciting news for our sales distribution and clients. It reflects well on our ability to offer top-quality insurance products and outstanding service to agents and policyholders for many years to come. I believe the 'A-' Excellent A.M. Best rating for American Continental is evidence that we are committed to excellence in all areas of the business. The new rating coupled with the financial stability of Genworth is a definite win-win for everyone."
American Continental Insurance Company was established in 2005 on a solid foundation of experience in the health/life insurance industry -- from Continental Life Insurance Company of Brentwood, Tennessee. American Continental became a Genworth Financial Company in 2006.
Founded in 1899, A.M. Best Company is a global, full-service credit rating organization dedicated to serving the financial and health care service industries.
*"A-" Excellent is the fourth highest rating out of sixteen A.M. Best ratings.
October 2007
Insurance Marketplace Standards Association Seal Of Approval
Continental Life Insurance Company of Brentwood, Tennessee and American Continental Insurance Company have received Insurance Marketplace Standards Association (IMSA) certification. IMSA is a nonprofit, independent organization created to strengthen consumer trust and confidence in the marketplace for individually sold life insurance, long-term care insurance and annuities. IMSA qualified companies commit to maintaining high ethical standards and to being fair, honest, and open in the way they advertise, sell, and service their products.
The IMSA seal is tangible proof that a company adheres to specific, stringent market conduct principles and is a guidepost for excellence. IMSA qualified companies have developed and maintained policies and procedures to promote ethical business practices with a dedication to high standards that make them unique in the marketplace.
Continental Life and American Continental are proud to be certified with the IMSA seal of approval. For more information on IMSA, visit www.imsaethics.org.
