Company Maintains A- (Excellent) Rating and Stable Outlook for Third Consecutive Year DALLAS , Aug. 8, 2024 /PRNewswire/ -- Liberty Bankers Insurance Group (LBIG), a nationally recognized provider of life, health, and wealth products, reaffirmed its financial strength rating (FSR) of A- (Excellent) and its issuer credit rating (ICR) of a- (Excellent) from AM Best for the third year in a row. The ratings reflect LBIG's balance sheet strength, which AM Best assesses as very strong, in addition to its adequate operating performance, neutral business profile, and appropriate enterprise risk management (ERM).
"AM Best's reaffirmation of our A- Excellent rating showcases the innovative and strategic approach at Liberty Bankers Insurance Group," said Thomas Hayden , vice president of investment strategy at LBIG. "We are proud of the stability of our organization and our outstanding growth year over year." The AM Best credit report highlights LBIG's financial strength, reporting a record high operating income of $37.
5 million and adjusted capital and surplus of $420.5 million. LBIG's total premium income in 2023 was $559.
5 million . AM Best notes that Liberty Bankers continues to expand through new lines of business, revamped product offerings, strategic acquisitions, increased distribution, and a diverse product offering of life, health, and annuity products. LBIG's ERM program has strengthened through formal policies, risk appetite statements, and transparency throughout the organi.