Financial Ratings

• A.M. Best’s financial strength ratings range from A++ to S. A “+” or “-“ permits further gradation of financial strength within a particular rating category.
  • The “A” financial strength rating represents the third highest among 13 rating levels
• Fitch Ratings financial strength ratings range from AAA to C, an additional “+” or “-“ for AA through CCC levels indicating relative differences of probability of default or recovery for issues.
  • The “A” rating represents the sixth highest of 19 rating levels
• Moody’s financial strength ratings range from Aaa to C. Numerical modifiers are used from Aa to Caa to indicate the ranking is in the higher end of range (1), a mid-range ranking (2) or a (3) which denotes a ranking in the lower end of the range.
  • The “A3” rating represents the seventh highest among 21 rating levels
• Standard & Poor’s (S&P) financial strength ratings range from AAA to CC. Ratings from AA to CCC may be modified by the addition of a “+” or “-“ to show relative standing within the rating categories.
  • The “A” rating represents the sixth highest among 20 rating levels

Ratings are accurate as of February 20, 2024. Financial strength ratings do not apply to the principal amount or investment performance of the separate account or underlying investments of variable products. A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.