Dhiren Jhaveri, Chairman of Guaranty Income Life Insurance Company (GILICO), said, “We are pleased with the upgrade of two notches for our Long-Term Issuer Credit Rating (ICR) to bbb+ and the increase in our Financial Strength Rating (FSR) to B++. These increased ratings, along with our A- rating from Kroll Bond Rating Agency and similarly positioned numerical rating from ALIRT, are positive recognition of GILICO’s financial strength and operational accomplishments. We continue our goal to deliver consumer-oriented products, including new products currently in development.”

A.M. Best stated, “The rating upgrades reflect the strong operating improvements over the last several years, including premium growth in its key AnnuiCare® product, improved risk-adjusted capitalization, significant distribution expansion and stable operating profile with favorable operating returns. The rating upgrades also acknowledge GILICO’s new parent, Kuvare US Holdings, Inc. (Kuvare), and the explicit financial support it provides to GILICO along with Kuvare’s expertise and the potential for additional flexibility as GILICO expands its business profile.”
 
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GILICO Announces AM Best Upgrade
 

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