Litigation

Structured Annuity Issuers and Assignees Stand The Test Of Time- Best Review July 2009

By John Darer

Best's Review has published "Standing the Test of Time" its annual report of insurance companies that have demonstrated their financial strength for half a century or more. The report published in its July 2009 issue includes both property and casualty as well as life and health insurers. A large number of the companies listed are either current or former annuity issuers or qualified assignees.

Inclusion in this list DOES NOT mean you should throw caution into the wind but it does show that these companies have weathered a variety of different storms during the time period in the opinion of A.M. Best rating agency.

Maintained Rating of A (Excellent) or better for 75 or more years

National Union Fire Insurance Company of Pittsburgh, PA, since 1934, (now part of AIU Holdings, Inc. and for structured settlements entered into for New York claims and suits against insureds of AIG subsidiary American Home Assurance Company it serves as qualified assignee for cases resolved though June 30, 2009).

Aviva Life and Annuity Company (former structured annuity issuer-includes predecessors), since 1929
Genworth Life (includes predecessors), since 1928  (former structured annuity issuer)
John Hancock Life Insurance Company, since 1928
Metropolitan Life Insurance Company, since 1928
New York Life Insurance Company, since 1928
Prudential Insurance Company of America, since 1928

Maintained Rating of A (Excellent) or better for 50 or more years

American General, since 1948
Hartford Life insurance Company, insce 1940
Liberty Life, since 1954
Massachusetts Mutual Life, since 1939 (former structured annuity issuer)
Pacific Life, since 1959
United of Omaha, since 1956  (former structured annuity issuer)

Full post as published by Structured Settlements 4Real on July 11, 2009 (boomark / email).