Insurance Company Ratings Chart: AM Best, S&P, Moody’s & Comdex (2026)

Life insurance company ratings tell you how financially strong a carrier is before you hand over your premium. On this page you’ll find AM Best, S&P, Moody’s, Fitch, and Comdex scores for 590+ top annuity companies in one place, plus plain-language explanations of what each rating means for annuity buyers.

Insurance Company Ratings Chart (550+ Carriers)

The table below covers 550+ life and annuity carriers rated by AM Best, S&P, Moody’s, Fitch, and/or Weiss. Use the search box to find a specific carrier. Click any column header to sort. Comdex is shown where available.

Ratings reflect the most recently published agency data. Verify directly with the issuing agency before purchasing. AM Best rating trademarks © AM Best Company.

Who Are the Top Rated Life Insurance Companies?

Currently, only 4 life insurance companies hold a perfect Comdex score of 100 – the highest composite financial strength rating possible:

• New York Life Insurance Company
• Berkshire Hathaway Life Insurance Company of Nebraska
• General Re Life Corporation
• Northwestern Mutual Life Insurance Company

A Comdex of 100 means these companies rank in the 100th percentile of all rated insurers across AM Best, S&P, Moody’s, and Fitch combined. No other rated company has stronger aggregate financial strength.

A++ is AM Best’s highest possible letter rating. Only a small percentage of U.S. carriers have earned it. An AM Best rating of A- or better is generally considered the minimum acceptable standard for annuity and life insurance placement.

A++ (Superior) Rated Life Insurance Companies

A+ (Superior) Rated Life Insurance Companies

Top Ranked Life Insurance Companies by Comdex Score

Comdex ranking cuts through the confusion of comparing four different rating scales. A company with a Comdex of 95 ranks in the 95th percentile of all rated insurers, meaning its financial strength exceeds 95% of its peers. Companies like New York Life, Northwestern Mutual, USAA, and MassMutual consistently hold A++ from AM Best. These mutual insurers carry no outside shareholders, which means every dollar of surplus stays on the balance sheet rather than flowing to equity holders.

Comdex scores are approximate. Verify current scores at our Comdex resource page.

Highest Rated Annuity Companies (2026)

Not every highly-rated life insurer sells annuities. The tables below focus on carriers that actively sell fixed annuities, MYGAs, fixed index annuities (FIAs), and similar retirement income products, organized by AM Best rating tier.

A Rated Annuity Companies

A- Rated Annuity Companies

B++ Rated Annuity Companies

AM Best Ratings Chart and Scale (2026)

AM Best is the gold standard for insurance company financial ratings. When a carrier lists only one rating, it is almost always from AM Best. The table below shows the full AM Best rating scale from A++ (Superior) down to D (In Liquidation).

AM Best rates carriers on four dimensions: balance sheet strength, operating performance, business profile, and enterprise risk management. Their proprietary Best’s Capital Adequacy Ratio (BCAR) model tests how much capital a carrier holds relative to its risk at multiple confidence intervals. A positive BCAR score means the carrier’s available capital exceeds its required capital.

AM Best vs. S&P vs. Moody’s: How the Scales Compare

Each agency uses a different letter system, which makes direct comparisons confusing. Here is a quick reference for the top rating tiers across the four major agencies.

Notice that AM Best’s second-best rating (A+) corresponds roughly to S&P’s AA tier. This is partly because AM Best specializes in insurance and calibrates its scale specifically for insurers, while S&P and Moody’s cover all corporate credit.

What Is a Comdex Score? (2026)

The Comdex Score is a composite percentile ranking, not a standalone rating. It combines scores from AM Best, S&P, Moody’s, and Fitch into a single number on a 1-100 scale.

A Comdex of 92 means the carrier ranks in the 92nd percentile of all rated insurers. In plain terms: 92% of rated companies have weaker financial strength. A Comdex above 85 is generally considered strong. Below 70 warrants extra scrutiny.

How the Comdex Is Calculated

For each rating a carrier holds, the Comdex model converts the letter grade to a percentile based on how many companies hold that rating or higher. Those percentiles are averaged, weighted by the agency. The result is rounded to a whole number between 1 and 100.

A carrier rated by only one agency will have a less reliable Comdex than one rated by all four. When comparing carriers, look for those with ratings from at least two agencies to ensure the Comdex reflects a meaningful sample.

Comdex Scores by Carrier (Selected)

Comdex scores are updated periodically as agencies publish new ratings. Use as a starting point, not a final verdict.

How Are Life Insurance Companies Rated?

Life insurance companies are rated by independent credit rating agencies (CRAs) that analyze their financial statements, investment portfolios, and management practices. The four major agencies for U.S. insurers are AM Best, S&P Global Ratings, Moody’s Investors Service, and Fitch Ratings.

Each agency issues two primary scores: a Financial Strength Rating (FSR), which grades the company’s ability to pay claims, and an Issuer Credit Rating (ICR), which rates its general creditworthiness. For annuity buyers, the FSR is the more relevant number.

The Rating Process

Rating agencies typically meet with company management annually, review audited financials, stress-test capital adequacy under multiple economic scenarios, and assess competitive positioning. A downgrade usually signals a deterioration in capital, earnings, or market position that developed over one or more years, not overnight.

Two additional rating firms you may encounter:

• Weiss Ratings – uses a proprietary model that is often more conservative than AM Best; a Weiss B- roughly corresponds to an AM Best A-
• KBRA (Kroll Bond Rating Agency) – newer entrant, increasingly used by smaller and regional carriers

Life Insurance Rating Scale: What Each Grade Means

Every rating agency has its own letter scale, but the underlying meaning follows a consistent pattern: higher letter grades mean more financial strength, lower grades mean more risk. Here is what the most common AM Best grades mean in practical terms for an annuity buyer.

• A++ or A+ (Superior) – The carrier has exceptional claims-paying ability and very low probability of default over any reasonable time horizon. Appropriate for any annuity purchase.
• A or A- (Excellent) – Strong claims-paying ability. Very low default risk. Appropriate for most annuity purchases. Most agents consider A- the floor for placement.
• B++ or B+ (Good) – Adequate claims-paying ability, but more vulnerable to adverse economic conditions. Acceptable for smaller purchases; use caution for long-duration contracts.
• B or B- (Fair) – Uncertain financial strength. Higher-risk. Avoid for primary retirement assets unless diversifying across multiple carriers.
• C++ or lower – Marginal or weak financial strength. Not appropriate for retirement assets.
• D or E – In or near regulatory supervision or liquidation. Avoid.

How to Choose an Insurance Company Based on Financial Ratings

Four factors matter most when evaluating carrier strength for a life insurance policy or annuity purchase.

1. Start with the Comdex, confirm with AM Best. If a carrier has a Comdex of 85 or higher, that is a strong signal. Then verify the AM Best rating is at least A-. A high Comdex with a low AM Best rating is unusual, but if you see that combination, investigate further before committing.

2. Check how many agencies rate the carrier. A company rated by all four major agencies and holding A grades across the board is more reliable than one rated by AM Best alone. Single-agency ratings are not invalid, but they offer less information. The SEC maintains a list of Nationally Recognized Statistical Rating Organizations (NRSROs) – only ratings from these certified agencies carry regulatory weight.

3. Look beyond financial strength at customer satisfaction. Financial strength ratings tell you if the company can pay claims. They do not tell you whether it will pay promptly or treat you fairly. The J.D. Power U.S. Individual Life Insurance Study ranks carriers annually on customer satisfaction across price, communication, and claims experience. The NAIC Complaint Index shows how many complaints a carrier receives relative to its market share – a score below 1.00 means fewer complaints than average. Cross-reference financial strength with J.D. Power and NAIC data before committing.

4. Consider your state’s guaranty association limits. Even with an A-rated carrier, your state’s guaranty association provides a safety net if the company fails. Most states cover $250,000 per contract, though some cover more. If you are placing more than the limit, consider splitting the purchase between two carriers. NOLHGA has a state-by-state coverage lookup.

For a 60-year-old placing $200,000 into a 5-year MYGA, we typically recommend carriers with AM Best A or better and a Comdex above 80. That captures most top-rate MYGA issuers while filtering out carriers with meaningful financial risk. See our current MYGA rate comparison to see which top annuity companies offer the best rates today.

Where to Verify Insurance Company Ratings Yourself

Never rely on a single source – including this page – as your only verification. Here are the official free lookup tools for each major rating agency.

For Comdex scores, the data is compiled by Ebix (formerly EbixExchange) into a 1-100 percentile composite. It is not published directly by any single rating agency.

Frequently Asked Questions

What is the highest AM Best rating for an insurance company?

A++ (Superior) is AM Best’s highest rating. It is held by fewer than 20 U.S. life and annuity carriers, including New York Life, Northwestern Mutual, MassMutual, Guardian Life, and USAA.

What is a good Comdex score for an annuity company?

A Comdex score above 85 is considered strong. Companies with scores in the 90s represent the most financially secure tier of rated insurers. Most financial advisors recommend avoiding annuity carriers with a Comdex below 70 for retirement assets.

How often are insurance company ratings updated?

AM Best, S&P, Moody’s, and Fitch typically review insurer ratings at least annually, with interim reviews triggered by major events like acquisitions, reserve strengthening, or significant capital changes. Ratings can be raised, lowered, or placed on “review” (watch) status between annual cycles.

What does an AM Best A- rating mean for an annuity?

AM Best A- (Excellent) means the carrier has a strong ability to meet its ongoing obligations to policyholders. It is the minimum rating most financial planners recommend for annuity placements. The industry standard shorthand is “A-minus or better.”

What is the difference between AM Best and Moody’s ratings for insurance companies?

AM Best specializes exclusively in insurance, meaning its methodology and scale are calibrated specifically for insurer risk. Moody’s covers all corporate and sovereign credit, with insurance being one sector among many. An AM Best A+ corresponds roughly to Moody’s Aa3. For insurance-specific analysis, AM Best ratings carry the most weight with agents and advisors.

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