Insurance Company Ratings Guide

Insurance Company Ratings Charts

An Insurance Company Ratings Chart lists the Insurance Company’s Financial Ratings issued by the Four Main Insurance Company Rating Agencies.

Insurance company ratings charts are important because financial ratings are an indicator of an insurance company’s ability to honor their commitments to its policy holders. Annuity guarantees are backed by the claims paying ability of the issuing insurance company and are not FDIC insured. 

State Insurance Guaranty Associations do provide some protection to annuity owners up to a limit. You can get the limit for your state at our Insurance Guaranty Associations page.

Insurance Company Ratings: 4 Main Agencies

Below are the four main rating agencies that assign insurance company ratings. When you look at an insurance company ratings chart you will see the financial rating assigned by one or all of these rating agencies. Most often, if an insurer only has a rating assigned from one agency it will be from A.M. Best.

A.M. Best

The only global credit rating agency with a unique focus on the insurance industry. Best’s Credit Ratings, which are issued through A.M. Best Rating Services, Inc., are a recognized indicator of insurer financial strength and creditworthiness. You can search for an insurance company’s A.M. Best Rating on this page of the A.M. Best website.

Standard & Poor’s:

In 28 countries around the world and a history that dates back more than 150 years, S&P Global Ratings provides high-quality market intelligence in the form of credit ratings, research, and thought leadership. S&P Global Ratings has rated over 1,000 insurers; you can search the complete list at standardandpoors.


Moody’s is an essential component of the global capital markets, providing credit ratings, research, tools and analysis that contribute to transparent and integrated financial markets. Visit Moody’s to learn more about their insurance industry ratings and market research.

Fitch Ratings 

A Global Leader in financial information services with operations in 30 countries. Visit Fitch’s Insurance ratings page on their website to read comprehensive explanation of their ratings process by clicking here.

Insurance Company Ratings Chart Key Take-Aways

  • An insurance company’s financial rating is an opinion (not a fact), and is issued by an independent agency.
  • An insurance company credit rating indicates an insurance company’s financial strength, solvency and ability to pay policyholder claims.
  • Each rating agency has it’s own rating scale so the same insurance company can receive different ratings among the four agencies.
  • An insurance company ratings chart may not include a rating from every agency.

Insurance Company Ratings Chart Example

Each of these rating agencies use their own proprietary scale to rate an insurance company. Their rating refers only to the financial strength of the insurance company and is not a recommendation of an annuity product. 

In the below insurance company ratings chart you will find a table that outlines each of these four rating agencies letter grade scales and their meaning.

Possible RatingsA.M. BestStandard & Poor'sMoody'sFitch Ratings
SuperiorExtremely StrongExceptionalExceptionally Strong
SuperiorVery StrongExcellentVery Strong
ExcellentVery StrongExcellentVery Strong
ExcellentVery StrongExcellentVery Strong
WeakMarginalQuestionableModerately Weak
WeakMarginalQuestionableModerately Weak
PoorMarginalQuestionableModerately Weak
Under SupervisionWeakPoorWeak
In LiquidationWeakPoorWeak
Very WeakVery PoorVery Weak
Very WeakVery PoorVery Weak
Very WeakVery PoorVery Weak
Extremely WeakExtremely PoorExtremely Weak

Most Widely Accepted Insurance Company Ratings Agency

Many insurance company ratings chart only has one financial rating assigned – A.M. Best’s. AM Best is the leading provider of insurance company ratings, news, analysis, and financial information for the Life/Annuity insurance industry. Best’s Credit Ratings are independent opinions regarding the creditworthiness of an issuer or debt obligation.

An A.M. Best rating is more than a balance sheet strength assessment and includes valuations of operating performance, business profile, and enterprise risk management.

Am Best 5 Step Rating Methodology

The economy and related economic cycles drive the level of life and annuity insurance activity, revenue and income. 

Typical business dynamics such as competition, consumer demands and regulatory changes combined with economic forces have resulted in significant changes in the life and annuity insurance industry with changing risk profiles, market participants and products. 

A.M. Best’s Credit Ratings are based on a comprehensive quantitative and qualitative evaluation of a company’s balance sheet strength, operating performance, business profile and enterprise risk management or, where appropriate, the specific nature and details of a debt security. 


AM Best: Best Capital Adequacy Ratio (BCAR)

Depicts the quantitative relationship between a rating unit’s balance sheet strength and its key financial risks that could impact such strength. As the foundation of financial security, balance sheet strength is critical to the determination of a rating unit’s ability to meet its current and ongoing obligations.

By establishing a guideline for the net required capital needed to support balance sheet strength, BCAR can assist analysts in differentiating among the financial strength of insurers and in determining whether a rating unit’s capitalization is appropriate for its risk profile. 

The analysis of BCAR alone does not decide the balance sheet strength assessment. Other factors that can impact the balance sheet strength analysis include:

    •  liquidity
    • quality of capital 
    • dependence on reinsurance
    • quality and appropriateness of reinsurance
    • asset/liability matching reserve adequacy
    • stress tests
    • internal capital models
    • the actions or financial condition of an affiliate and/or holding company 

Similarly, a rating is more than a balance sheet strength assessment and includes evaluations of a rating unit’s operating performance, business profile, and enterprise risk management.

Understanding AM Best Financial Rating Process BCAR Illustration

The BCAR model calculates a rating unit’s net required capital at different confidence levels, resulting in a BCAR score for each of these levels. Since the difference between a rating unit’s available capital and its net required capital is expressed as a ratio to available capital, a BCAR score expresses the extent of the excess or shortfall as a percentage of available capital. 

A positive score at a particular confidence interval indicates the rating unit’s available capital is in excess of its net required capital, whereas a negative score indicates the rating unit’s available capital has fallen short of its net required capital. State Guaranty Associations are in place should an insurer become insolvent.

Comdex Scores Explained

The Comdex is not a rating, but a composite of all the ratings a company has received. It ranks companies on a scale of 1 to 100, showing you at a glance where a company is ranked among all rated insurers.

In order to take those reviews from A.M. BestMoody’sFitch, Weiss and Standard & Poor’s and put them all on a level playing field, the Comdex was born.

The idea here is to take a sort of ‘average’ number, then find out where the carrier ranks among the others based on that ‘average.’

Composite Index 

Comdex stands for composite index; rightly so, as the Comdex compiles the scores from the four major credit raters, presenting you with a composite score of all the evaluations a life insurance company has available.

It then puts each company into one single, 100-point scale.

This method, in essence, creates a percentile in which to place each company.

The higher the percentile, the higher the company’s overall rankings from the other private rating companies.

Many insurance seekers find it far simpler to look at a score on a scale of 1-100 than to try to understand five different rating scales and their methodology. For instance, an A+ financial rating from A.M. Best is very different from a Standard & Poor’s A+ financial rating.

Visit the Comdex Score: A Useful Ranking from 1-100 for a more in-depth explanation of the Comdex Score.

Understanding Financial Profiles

Comdex Score:

Our exclusive composite index, the Comdex, gives you a quick summary of a carrier’s ratings and shows you how they stack up.

Numerical Equivalent:

A number in parenthesis next to each rating quickly tells you where that rating fits on the scale for that rating service. A+ (2) tells you this is the second best rating for AM Best.

Insurance Company Ratings Chart:

An insurance company ratings chart compares the ratings for each rating service, so you can quickly compare. Below is a chart showing the 5 highest potential financial ratings assigned by

  • A.M. Best
  • Standard & Poor’s 
  • Moody’s
  • Fitch Ratings
  • KBRA
  • Weiss

As you can see they vary a fair amount. For example, the 5th highest rating from A.M. Best is a B++, but the 5th highest rating assigned by Fitch and KBRA is an A+, while the 5th highest rating offered by Weiss is a B.

Insurance Company Ratings chart showing financial ratings that are combined using the Comdex Score

Insurance Company Ratings

A+ Rated Insurance Companies

Lincoln Financial GroupRating
1300 South Clinton St., Fort Wayne, IN 46802
A.M. Best Rating (15 possible ratings)A+ (2)
Moody's (21 possible ratings)A1 (5)
Fitch (21 possible ratings)A+ (5)
Standard & Poor's (Financial Strength, 20 Ratings)AA- (4)
Comdex (percentile of all rating companies)90
North American Company for Life and Health InsuranceRating
Mailing AddressP.O. Box 79905, Des Moines, IA 50325-0905
A.M. Best Rating (15 Possible Ratings)A+
Fitch Ratings (Financial Strength, 21 Ratings)A+ (5)
Comdex Score (Percentile of All Rated Companies)89
Standard & Poor's (Financial Strength, 20 Ratings)A+ (5)
Pacific Life Insurance Company Rating
700 Newport Center Dr, Newport Beach, CA 92660
A.M. Best Rating (15 possible ratings)A+ (2)
Moody's (21 possible ratings)A1 (5)
Fitch (21 possible ratings)AA- (4)
Standard & Poor's (Financial Strength, 20 Ratings)AA- (4)
Comdex (percentile of all rating companies)93
Allianz LifeRating
5701 Golden Hills Dr., Minneapolis, MN 55416
A.M. Best RatingA+
Moody's (21 rankings)A1 (5)
Comdex (percentile of all rated companies)94
Standard & Poor's (20 Possible Ratings)AA (3)
Nationwide Life & Annuity CompanyRating
One Nationwide Plaza, Columbus, OH 43215
A.M. Best Rating (15 possible ratings)A+ (2)
Moody's (21 possible ratings)A1 (5)
Standard & Poor's (Financial Strength, 20 Ratings)A+ (5)
Comdex (percentile of all rating companies)90

A Rated Insurance Companies

Athene Financial RatingsRating
7700 Mills Civic Parkway, West Des Moines, IA 50266
A.M. Best Rating (15 possible ratings)A (3)
Fitch Ratings (21 possible)A (6)
Comdex (percentile of all rating companies)78
Standard & Poor's (20 possible ratings)A (6)
Global Atlantic Financial Group Rating
20 Guest St, Brighton, MA 02135
A.M. Best Rating (15 possible ratings)A (3)
Moody's (21 possible ratings)A3 (7)
Fitch (21 possible ratings)A (6)
Standard & Poor's (Financial Strength, 20 Ratings)A- (7)
Comdex (percentile of all rating companies)75
Great American Insurance GroupRating
301 E Fourth St., Cincinnati, OH 45202
A.M. Best Rating (15 possible ratings)A (3)
Moody's (21 possible ratings)A2 (6)
Standard & Poor's (20 possible ratings)A+ (5)
Comdex (percentile of all rated companies)82
American National Insurance Company (ANICO)Rating
A.M. Best Company (Best's Ratings, 15 Ratings)A (3)
Standard & Poor's (Financial Strength, 20 Ratings)A (6)
Comdex Ranking (Percentile in Rated Companies)79
Assets to Liabilities Ratio120.59%
American General Life Insurance CompanyRating
A.M. Best Company (Best's Ratings, 15 Ratings)A (3)
Moody's (Financial Strength, 21 Ratings)A2 (6)
Standard & Poor's (Financial Strength, 20 Ratings)A+ (5)
Fitch Ratings (Financial Strength, 21 Ratings)A+ (5)
Weiss (Safety Rating, 16 Ratings)B (5)
Comdex Ranking (Percentile in Rated Companies)82
Jackson National Life Insurance CompanyRating
1 Corporate Way, Lansing, MI 48951
A.M. Best Rating (15 possible ratings)A (3)
Moody's (21 possible ratings)A1 (5)
Fitch (21 possible ratings)A+ (5)
Standard & Poor's (Financial Strength, 20 Ratings)A+ (5)
Comdex (percentile of all rating companies)84

A- Rated Insurance Companies

American EquityRating
6000 Westown Pkwy, West Des Moines, IA 50266
A.M. Best Rating (15 possible ratings)A- (4)
Fitch (21 possible ratings)A- (7)
Standard & Poor's (Financial Strength, 20 Ratings)A- (7)
Comdex (percentile of all rating companies)60
Oxford Life Insurance Company 
Group AffiliationOxford Group
Home Office Phone Number602-263-6666
Mailing Address2721 North Central Avenue
Phoenix AZ 85004-1172
A.M. Best Rating (15 possible ratings)A- (6th)
Weiss(Safety Rating, 16 ratings)B+ (4)
Assets to Liabilities110.20%

B++ Rated Insurance Companies

Guaranty Income Life Insurance CompanyRatings
Mailing Address 2638 S Sherwood Forest Blvd, Suite 200
Baton Rouge, LA 70816
Group AffiliationKuvare US Group
A.M. Best RatingB++
State of DomicileIowa
NAIC Company Code 64238
Assets to Liabilities Ratio134.15%
EquiTrust Life Insurance CompanyRating
A.M. Best Company (Best's Ratings, 15 Ratings)B++(6)
Standard & Poor's (Financial Strength, 20 Ratings)BBB+(6)
Comdex Ranking (Percentile in Rated Companies)41
Assets to Liabilities Ratio106.29%
Atlantic Coast Life Insurance CompanyRatings
Group AffiliationAdvantage Capital Group
A.M. Best RatingB++
State of DomicileSouth Carolina
NAIC Company Code 61115
Upstream Life Insurance Company 
Mailing Address265 North Lamar Blvd, Suite A, Oxford, MS 38655
A.M. Best Rating (15 possible ratings)B++ (5th)
Assets to Liabilities178%
InsurerGuggenheim Life and Annuity
Mailing Address401 Pennsylvania Parkway, Suite 300 Indianapolis, IN 46280
Group AffiliationSammons Enterprises Group
A.M. Best RatingB++
State of DomicileDeleware
NAIC Company Code 83607
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Have a Specific Question?

Annuities are distributed by My Annuity Store, Inc. Guarantees are subject to the claims-paying ability of the insurer. My Annuity Store, Inc. does not advise clients on the purchase of non-fixed annuity products. The information presented here is not intended to be a recommendation to purchase a fixed annuity, fixed index annuity, variable annuity, registered index linked annuity (RILA), immediate annuity (SPIA), longevity annuity, or Qualified Longevity Annuity Contract (QLAC). 

The contract features described may not be current and may not apply in the state in which you reside. Insurance companies often issue contracts which are ‘state-specific’. Insurance companies also change their products and information often and without notice. Annuities are subject to the terms and conditions of the specific contract issued by the insurer, are not FDIC or NCUA insured, are not bank guaranteed, may lose value, and are not a deposit. 

Please call (855) 583-1104 if you have any questions or concerns. The information presented here is not a representation regarding the suitability of any concept or product(s) for an individual and it does not provide tax or legal advice. You should always consult your own financial planning, tax, and legal advisors to determine if a fixed annuity, immediate annuity, longevity annuity, or Qualified Longevity Annuity Contract are suitable in your financial situation.

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