AM Best affirms the credit ratings of Oxford Life Insurance Company and its subsidiaries | Business Insurance

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OLDWICK, New Jersey–(COMMERCIAL WIRE)–I am better has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) of Oxford Life Insurance Company (Oxford Life) (Phoenix, AZ ), and its subsidiary, Christian Fidelity Life Insurance Company (Dallas, TX), collectively referred to as the Oxford Group. The outlook on these Credit Ratings (ratings) is stable. At the same time, AM Best has affirmed the FSR of B++ (Good) and the Long-Term ICR of “bbb” (Good) for North American Insurance Company (Madison, WI). The outlook on these ratings is stable. These companies are owned by the ultimate parent company of the group, AMERCO [NASDAQ: UHAL]which is also the parent company of U-Haul International, Inc., North America’s leading do-it-yourself home mover and self-storage operator.

The ratings reflect the strength of the Oxford Group’s balance sheet, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and adequate enterprise risk management.

Oxford is a multi-state, multi-line writer offering multi-year guaranteed annuities, fixed annuities, final expense, and Medicare supplement products. The ratings are supported by Oxford’s risk-adjusted capitalization, which AM Best considers to be very strong, as measured by Best’s BCAR, and steady growth in surplus. Premium growth has been driven by higher sales of the group’s individual annuity products, specifically its multi-year guaranteed annuity product. The group has maintained a track record of profitable earnings, primarily driven by consistent net investment income and positive earnings in its annuity and Medicare supplement lines of business.

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North American Insurance Company’s ratings reflect the strength of its balance sheet, which AM Best assesses as strong, as well as its adequate operating performance, very limited business profile and adequate management of business risks.

This news release relates to credit ratings that have been posted on AM Best’s website. For full rating information related to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity Web page. For additional information on the use and limitations of credit rating opinions, see Best Credit Score Guide. For information on the proper use of Best’s Credit Ratings, Best’s Performance Reviews, Best’s Preliminary Credit Reviews, and AM Best’s press releases, see Guide to the proper use of Best ratings and evaluations.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company operates in more than 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information visit

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