American Income Life Insurance Company

American Income Life Insurance Company is an international company protecting working families in the United States, Canada, New Zealand.

American Income Life is a wholly-owned subsidiary of Globe Life Inc. (NYSE: GL), an S&P 500 Company that markets life and supplemental health insurance for middle-income families through its affiliate companies.

Click here for further information about American Income Life Insurance Company.

Financial Rating

American Income Life Insurance Company including the New Zealand Branch (AIL of New Zealand Ltd) has been granted an A+ (Superior)* financial strength rating from A.M Best Company, Inc. 

*This rating refers only to the financial strength of the company and is not a recommendation of the specific policy provisions, rates, or practices of the company.

A.M Best Company, Inc is a financial auditing company providing rating services to the global insurance industry. For more information about A.M Best Company, Inc please visit: http://www.ambest.com

A.M Best Company, Inc rating scale:

Rating Descriptor Definitions
SECURE
A++, A+ Superior Assigned to companies that have, in our opinion, a superior ability to meet their ongoing insurance obligations
A, A- Excellent Assigned to companies that have, in our opinion, an excellent ability to meet their ongoing insurance obligations
B++, B+ Good Assigned to companies that have, in our opinion, a good ability to meet their ongoing insurance obligations
VULNERABLE
B, B- Fair Assigned to companies that have, in our opinion, a fair ability to meet their ongoing insurance obligations. Financial strength is vulnerable to adverse changes in underwriting and economic conditions.
C++, C+ Marginal Assigned to companies that have, in our opinion, a marginal ability to meet their ongoing insurance obligations. Financial strength is vulnerable to adverse changes in underwriting and economic conditions.
C, C- Weak Assigned to companies that have, in our opinion, a weak ability to meet their ongoing insurance obligations. Financial strength is very vulnerable to adverse changes in underwriting and economic conditions.
D Poor Assigned to companies that have, in our opinion, a poor ability to meet their ongoing insurance obligations. Financial strength is extremely vulnerable to adverse changes in underwriting and economic conditions.
E Under Regulatory Supervision Assigned to companies (and possible their subsidiaries/affiliates) placed under a significant form of regulatory supervision, control or restraint – including cease and desist orders, conservatorship or rehabilitation, but not liquidation – that prevents conduct of normal, ongoing insurance operations.
F In Liquidation Assigned to companies placed in liquidation by a court of law or by a forced liquidation.
 
S Suspended Assigned to rated companies when sudden and significant events affect their balance sheet strength or operating performance and rating implications cannot be evaluated due to a lack of timely or adequate information.

Scale information sourced from: http://www.ambest.com/ratings/guide.pdf

Solvency Statement for American Income Life Insurance Company

 

The solvency position has been calculated in accordance with the Reserve Bank of New Zealand (RBNZ) Solvency Standard for Life Insurance Business 2014, issued under the Insurance (Prudential Supervision) Act 2010, effective up to and including 31 December 2019.

2019 2018
Custodial Fund Other Total Statutory Fund Custodial Fund Other Total Statutory Fund
Actual Solvency Capital 72,351,000 17,262,000 89,613,000 42,547,000 15,626,000 58,173,000
Minimum Solvency Capital 33,907,000 7,857,000 41,764,000 29,196,000 8,726,000 37,922,000
Solvency Margin 38,444,000 9,405,000 47,849,000 13,351,000 6,900,000 20,251,000
Solvency Ratio 213% 220% 215% 146% 179% 153%