< PreviousWhat AM Best Says 58BEST’S REVIEW • AUGUST 2022 enhanced competition may pressure prospective returns and companies’ ability to meet their cost of capital. Legacy Insurance Deals Landscape Legacy transaction volumes picked up into 2021 following COVID-19-related disruption. This momentum has carried over into early 2022, with several large transactions announced to date for estimated total liabilities of USD 4.2 billion. In any one year, the legacy market often includes a small number of particularly large transactions, making year-on-year volume comparisons appear somewhat volatile. Furthermore, transactions are often complex and weighted toward the end of the year, meaning that delays in completion can materially impact the volumes transacted in that year. AM Best believes that, with the combination of motivated sellers and active buyers with capital to deploy, deal flow in the legacy market is expected to remain buoyant in 2022 and beyond. Regulatory Focus Regulators play a significant role in the legacy market, with transactions and acquisitions subject to regulatory approvals ahead of completion. For run-off consolidators, demonstrating their ability to meet evolving regulatory demands is a dynamic that must be managed actively. Regulatory focus ultimately aims to ensure policyholder protection—both from a financial strength and conduct perspective—throughout the run-off period, a risk that can be elevated when there are changes in counterparties and contract administrators. For regulators in the UK and the European Union, recent focus has fallen on the operational capabilities of run-off players to handle transacted liabilities and the ultimate exit strategies of the segment’s backers. Regulatory developments are also fueling the segment. In certain jurisdictions, such as in the UK through its Part VII Transfer mechanism, legal insurance business transfers have long been possible. In others, it remains an emerging tool. Insurance regulators in the U.S. state of Oklahoma approved the U.S.’s first third-party Insurance Business Transfer in 2021. While several U.S. states, such as Rhode Island and Vermont, also have insurance business transfer legislation, the successful completion in Oklahoma sets the stage for wider legal finality solutions in U.S. markets. IFRS 17 Run-off segment operators that report under International Financial Reporting Standards (IFRS) face several important considerations with the upcoming implementation of IFRS 17 in 2023. Compared with the existing IFRS 4 standard, IFRS 17 will reduce variations in treatment across geographies. One area in which IFRS 17 will have an impact is the emergence of profit. Under the current standard, profit may be recognized on transaction completion, but under IFRS 17, profit will be recognized as services are rendered over the coverage period, with this coverage period being the settlement period of the run-off liabilities. IFRS 17 is required to be applied retroactively, which may result in significant restatement of opening balance sheets on adoption. Additionally, the discounting of liabilities presents a material change from current practice, and may provide a more economic view of casualty books. AM Best expects most run-off consolidators adopting IFRS 17 to apply the General Measurement Model (GMM) of IFRS 17, as opposed to the simplified Premium Allocation Approach (PAA). This reflects the generally long-tail nature of the coverage period for legacy transactions under IFRS 17, and is viewed as carrying increased complexity. It is not only acquirers of legacy portfolios that are set to be impacted by the introduction of IFRS 17. In a small number of instances, what was originally considered to be a finality solution may no longer be the case. In particular, RITC transactions in the Lloyd’s market with non-aligned counterparties may be required to be accounted as reinsurance contracts, rather than finality solutions. This would have the effect of requiring the disposing party to continue recognizing the gross liabilities on its balance sheet, along with a reinsurance asset relating to the RITC counterparty, after the RITC transaction rather than reflecting a disposal. A requirement to re-recognize previous reserves subject to RITC transactions would bring significant operational burden given that the claims and policy data are normally held by the broker and RITC counterparty rather than the reinsuring syndicate. BR59BEST’S REVIEW • AUGUST 2022 Underwriting & Loss Control Gun Manufacturers Lose Legal Challenge to New York Law Best’s Underwriting Reports and Best’s Loss Control Reports provide insight into the lines of coverage, exposures and loss control for gun manufacturers. Gun manufacturers have lost a legal challenge to a New York law that allows firearm sellers, manufacturers and distributors to be sued by the state, cities or individuals for creating a “public nuisance” that endangers the public’s safety and health. U.S. District Judge Mae D’Agostino in Albany rejected a request by the National Shooting Sports Foundation and gun manufacturers, including Smith & Wesson Brands Inc. and Sturm, Ruger & Co. Inc., to enjoin enforcement of the statute. The National Shooting Sports Foundation, a trade group for the firearms industry, has said it plans to appeal. The ruling comes amid growing pressure for tougher gun regulations after fatal mass shootings in Buffalo, New York and in Uvalde, Texas earlier this year. Former New York Governor Andrew Cuomo in July 2021 signed the legislation making it easier to bring civil lawsuits against gun manufacturers and dealers by bypassing blanket immunity provided to the industry under federal law, according to a Bloomberg report. Other gun control legislation has been gaining traction at the federal and state level. The Senate passed a bipartisan measure in June, which includes enhanced background checks for those under 21, funding for mental health and school safety, incentives for states to implement “red flag” laws and limits on the “boyfriend loophole.” A recent settlement between a gun manufacturer and victims of the Sandy Hook school shooting could also embolden other plaintiffs, according to The Hill. Earlier this year, the gun manufacturer Remington reached a settlement with the families of nine victims of the 2012 Sandy Hook school shooting. The lawsuit argued that the manufacturer’s marketing of the weapon had violated Connecticut consumer law, according to The New York Times. The financial settlement is being paid by insurance companies that had represented Remington, which is in bankruptcy. Best’s Underwriting Reports identifies 10 lines of coverage for gun manufacturers: Automobile Liability, General Liability: Premises and Operations, General Liability: Products – Completed Operations, Workers’ Compensation, Crime, Property, Business Interruption, Inland Marine, Equipment Breakdown and Cyber Insurance. Best’s Hazard Index ranks the risk exposure for the lines of business as Low (1-3), Medium (4-6), High (7-9) and Very High (10). Following are excerpts of the Lines of Coverage reports that have the highest hazard index rankings. Lines of Coverage General Liability: Products – Completed Operations Gun manufacturers will face a severe General Liability: Products – Completed Operations exposure due to the potential of critical injury or death from defective or malfunctioning guns. Claims could also arise from the inadequate testing of guns, inaccurate or confusing product instructions and warnings, the distribution of defective products and the use of guns that are recalled or discontinued. Inland Marine There will be a serious Inland Marine exposure for gun manufacturers. If the insured offers delivery services to customers, Transit coverage will be needed. For those that offer gunsmithing and warranty services, Bailee coverage Best’s Hazard Index Line of Coverage Best’s Hazard Index General Liability: Products – Completed Operations10 Inland Marine 8 Crime 6 Cyber Insurance 660BEST’S REVIEW • AUGUST 2022 Underwriting & Loss Control will likely be necessary for customer-owned guns that are shipped to the insured and left in its care, control and custody. Valuable Papers and Records will be necessary to protect important documents, such as gun patents, contracts with dealers and gun retailers, and information for law enforcement agencies. An Equipment Floater will be needed for hand tools and equipment, portable electronic devices, and mobile equipment. Crime There will be a significant Crime exposure for gun manufacturers. Typically, there is little cash kept on the premises because transactions are normally made by check, electronic funds transfer (EFT), or credit/ debit card. However there may be an employee dishonesty exposure from the potential pilferage of guns, ammunition, gun parts (e.g. frames, slides, plates, movable parts, and more), or embezzlement. Cyber Gun manufacturers will experience a significant Cyber Insurance exposure. They must be able to guard valuable data that is stored on their servers. Therefore, protecting and maintaining the insured’s computers, servers, and networks, both physically and digitally (e.g., from computer viruses or hacking attempts) is essential. Loss Control On-Site Inspection: • What are the types and amounts of products made by the gun manufacturer? • Are warning labels attached to all guns? • No outward indication on the trailer of what is being hauled? • Are delivery vehicles equipped with anti-theft alarms? • Have surveillance cameras been installed in loading dock areas? • What is the level of security on the premises? • Does the insured have a wired or wireless computer network? • Does the insured keep computer servers on the premises, or is this service contracted out to a third- party (i.e., cloud computing) provider? – Best’s Review Staff BRING UNSEEN RISKS TO THE SURFACE Expand your knowledge of the businesses and industries you are evaluating with Best’s Underwriting Reports and Best’s Loss Control Reports. Written from an underwriter’s and loss control professional’s perspective, these detailed, yet concise reports include the information you need to efficiently assess risk and exposures. 21.BUG007FA Our Insight, Your Advantage ™ Learn more: sales@ambest.com 333Ȑ ) !/0Ȑ +)ˏȼˏȬȏȅȎȭˏȊȈȏȥȇȇȅȅ For more on this and other risk classifications, visit Best’s Underwriting & Loss Control Resources.61BEST’S REVIEW • AUGUST 2022 Book Store Tech-Enabled, Tech-Forward or Tech-Shackled: Which Are You? Jeff Arnold, founder of RightSure Insurance Group, is also author of the book Tech-Enabled, Tech-Forward or Tech-Shackled: Which Are You? Despite whatever category they fall into, he said companies can successfully integrate technology into their operations by making it a collaborative effort and focusing on the end goal, thereby turning what is often a confusing undertaking into a more disciplined thought process. Following is an edited transcript of the AM Best TV interview with Arnold. How did the idea for the book come about? Each year I take a week to get away from emails, phone calls and meetings to focus entirely on life goals, write and maintain clarity and direction for my company. It was one of those mornings where I’m staring into my cup of coffee and these thoughts just kind of rage into my mind, so I quickly cataloged, memorized and wrote them down because the universe was speaking to me something very clear that said, “Jeff, you often run out and adopt the latest technology without fully understanding where it fits.” After some critical self-dialogue and deep introspection, I had the epiphany that I’m either tech-forward, tech- enabled or tech-shackled because sometimes I don’t apply the discipline needed before I run out and try to integrate technology into my life or organization. Can you describe each of those categories? Tech-enabled, as I describe it, is a company that integrates technology to make them more efficient. A tech-forward company uses technology to revolutionize a process or change an industry, while a tech-shackled company adopts technology that interferes with or inhibits the agent or customer journey. You have to be very intentional and dedicate time to critically challenge your decision. Press it up against where you want your company to be or why you’re using this technology. We all agree that technology is integral, relative and must be adopted. If you’re going to be an effective executive, you have to discipline and intentionally critically think about why you are using the technology. Every company, managing general agency and agency has fallen into each of these categories with respect to how to change it. That’s why I hope my primer can be a personal reminder to clarify your thoughts about why you’re integrating or adopting a particular technology. What do insurers need to do to successfully integrate technology into their firms? Always challenge your thoughts, prejudices, beliefs and the end use of a particular technology. Is it to make it easier for clients, staff, accounting, finance or IT? Make sure that the end goal aligns each step along the way with the new technology that you’re trying to roll out. BR —Lori Chordas Author: Companies Must Use Discipline When Making Technology Choices RightSure’s Jeff Arnold says companies must consider why and how they are using technology. Go to Amazon to find these and other books. Send us your book recommendations at bestreviewcomment@ambest.com. AM Best Business Trilogy AM Best details the history of AM Best, the history of credit rating agencies, and the life of Alfred M. Best. The Company—A History of AM Best The Industry—A History of Credit Rating Agencies The Man—A Biography of Alfred M. Best T h e AMB e s t B u s i n e s sTr i l o g y The Industry The Company The Man Industry Theee A History of the Credit Rating Agencies AM B est T h e A M B e s t B u s i n e s sT r i l o g y The Industry The Company The Man AM B est A History of AM Best Company Theeee T h e A M B e s t B u s i n e s sT r i l o g y The Industry The Company The Man AM B est A Biography of Alfred M. Best Man Theee AM Best TV Visit www.bestreview.com to watch the interview with Jeff Arnold. Lori Chordas is a senior associate editor. She can be reached at lori.chordas@ambest.com.62BEST’S REVIEW • AUGUST 2022 App Store Home Inventory App An accurate home inventory gives an insurance carrier the information it needs to help settle claims after a catastrophic event. The National Association of Insurance Commissioners has an app that allows people to quickly and easily build their inventory before such a situation occurs. The app also provides tips on handling catastrophic events and guidance on filing a claim if a disaster strikes. Best’s Review discussed the app with Laura Kane, director of communications for the NAIC. Following is an edited transcript of an interview with Kane. Please tell us about the need for the NAIC Home Inventory App. We were working on a consumer campaign called “What the Flood!” and that is really focused on a few things, helping people understand their risks, understand what’s covered and what isn’t covered, and then, of course, helping them through the claims process. As we were working on the campaign, we decided we needed to offer consumers a tool that would help them with the claims process, which allows them to get that home inventory cataloged, in a convenient way. What does the app do? It offers people mitigation tips, things that they can do before a disaster strikes so that, hopefully, it won’t be as impactful. It also enables them to categorize their belongings by room, to include things like the photograph and QR codes, to get an accurate inventory, which can easily be downloaded to their claim form. It also offers tips on how to file a claim, should they need to. How can the app be useful? The app is useful for everybody because, as you know, when disaster strikes, a lot of homeowners have not taken the time to do an accurate home inventory, or the home inventory is lost. The beautiful thing about this is it enables you to keep it on your phone, have photos and access to all of your stuff, and easily add to it as you start to get more stuff, and so it makes it easier for insurance companies and better for homeowners. How does the app make the experience more user-friendly? I think because it takes you from the very beginning, by offering people tips such as clearing away defensible space from their homes, making sure that they don’t have flying objects in their patio—should they be expecting a hurricane. BR —Tom Davis App Provides Tips to Homeowners Before a Disaster Strikes The app from the National Association of Insurance Commissioners allows people to track their home inventory. BEST’S CREDIT RATINGS MOBILE APP Instant Access to Best’s Financial Strength Ratings Download today, or visit www.ambest.com/mobileapp Our Insight, Your Advantage ™ 21.MK052IA AM Best TV Visit www.bestreview.com to watch the interview with Laura Kane. Tom Davis is managing editor. He can be reached at tom.davis@ ambest.com.63BEST’S REVIEW • AUGUST 2022 Trending: Best’s News Trending: Best’s Review 1. Top Global Insurance Brokers - 2022 Edition 2. Standing the Test of Time - 2022 Edition 3. Stormy Weather: In Florida, Property Claims Face Litigation Backlog 4. World’s Largest Insurance Companies - 2022 Edition 5. ESG Under Insurance Regulatory Spotlight Trending: BestWire $ 1. Field of Nine Candidates Vying for California Insurance Commissioner Nod 2. Best’s Rankings: Progressive Surpasses State Farm to Become Largest US Total Auto Writer in 2021 3. Warren Buffett Retains Chairman Post, Says Progressive’s Investing Doesn’t Match Its Underwriting Strength 4. Florida Orders Southern Fidelity to Wind Down From Its ‘Hazardous’ Condition 5. DeSantis Signs Florida Insurance Reforms, but Concern Remains for Hurricane Season Trending: AM Best Webinars 1. Key Trends Influencing Today’s Auto Insurance Policy Life Cycle 2. Impact of Regulatory Changes on the Insurance Landscape 3. How Insurers Are Reducing Customer Churn and Building Loyalty 4. How Layered Protection Supports Insurance Identity Fraud Management 5. IMCA/AM Best Marketing Leader Lunch With Foremost Insurance’s Jeff Bair Trending: AM Best TV - News Coverage 1. Aon’s Bowen: La Nina Conditions Could Create Another Above-Average Hurricane Season 2. Travelers’ Ives: New Hires at Greater Risk of Workplace Injury 3. Beazley’s Greenwood and Karimali: Complexity of Risks Rise, but Most Leaders Remain Optimistic 4. Vlogging, Work Pressures Accelerate Potential for Distracted-Driving Accidents 5. Vermont’s Provost: Retiring After More Than Two Decades, but Happy to Pass the Captive Torch Auto Insurance Top Content Includes Top Global Brokers, Standing the Test of Time and World’s Largest Insurers Other trending content includes coverage of the troubled Florida property market, ESG and California’s insurance commissioner race. These were the top trending items from April 23-July 7, 2022. Features, news articles and videos were based on page views. Webinars were based on webinar attendance. The above content can be viewed on demand at www.bestreview.com, or by visiting AM Best’s home page at www.ambest.com. $ Payment or subscription required. Go to www.ambest.com/advertising to learn more about how to advertise in Best’s Review, BestWire, AM Best Webinars and AM Best TV. Global Brokers California Hurricanes64BEST’S REVIEW • AUGUST 2022 Trending: Best’s Research Trending: Best’s Special Reports 1. IFRS 17: Transitioning to a Standard With New Concepts and Terminology 2. P/C Snapshot: Insurers Navigate Pandemic and Elevated Secondary Perils $ 3. Best’s Impairment Rate and Rating Transition Study — 1977 to 2021 $ 4. Strong Performance, New Investments Drive Growth in Insurers’ Private Equity Allocations $ 5. Vertical Integration Momentum Builds as U.S. Health Insurers Seek to Expand Capabilities $ Trending: Best’s Market Segment Reports 1. D&O Insurance: Positive 2021 Results, but the Segment Still Faces Formidable Challenges $ 2. Market Segment Outlook: London Market Insurance 3. Difficult Environment for US Medical Professional Liability 4. Market Segment Outlook: South Korea Non-Life Insurance 5. Market Segment Outlook: India Non-Life Insurance Trending: Best’s Commentary 1. Troubled Florida Property Market Participants Under Immense Pressure 2. Despite New Reform Law, Florida Property Insurers to Face Continued Financial Pressures $ 3. Embedded Insurance Gradually Gaining Traction 4. Market Preparedness for IFRS 17 in the MENA Region Varies 5. Spike in Pandemic-Related Claims for Taiwan’s Non-Life Segment Trending: AM Best TV - Research Coverage 1. AM Best’s Briefing - The Florida Property Market in Flux 2. AM Best: Elevated Loss, Litigation Challenge Florida Property Insurers 3. AM Best’s Briefing: State of the U.S. Medical Professional Liability Sector 2022 4. AM Best’s Briefing - D&O Market: Start of a New Underwriting Cycle? 5. AM Best: Negative Outlook Maintained for UK Non-Life Sector Trending Research Includes Reports on IFRS 17, the London Market and Best’s Impairment Study Other trending research includes reports on D&O, U.S. MPLI and the Florida property market. These were the top trending research and commentary reports from April 23-June 23, 2022. $ Payment or subscription required. Best’s News & Research Service subscribers can download PDF copies of all Best’s Special Reports, Best’s Commentaries and Best’s Market Segment Reports along with supporting spreadsheet data at www.ambest.com. Florida Property Market D&O Insurance IFRS 1765BEST’S REVIEW • AUGUST 2022 AM Best Webinars For details or to register for webinars, go to http://www.ambest.com/conferences/webinars.asp View This and Other AM Best Webinars •AM Best’s Briefing - Cyber: Increasing Demand, Skyrocketing Prices, Accelerating Risks. How Do Insurers React? BR Streaming Live AM Best’s Briefing - State of the Captive Market Apanel of AM Best analysts and industry leaders will review market, regulatory and risk issues affecting the captive insurance sector. Wednesday, Aug. 3, 2 p.m. ET On Demand How Insurers Are Countering Climate Change by Building Resiliency Climate change is significantly affecting people and businesses. Not surprisingly, it is a top concern for policyholders and insurers worldwide. However, for proactive insurers, climate change also can be an opportunity to enable purpose through actions by actively building climate-resilient business models and propositions. A panel of insurance and risk experts discuss what the insurance industry can and should be doing in leading the way in solving the climate crisis, and what areas they should focus on to start small and accelerate their journey. Participants include Seth Rachlin, EVP, Global Insurance Industry leader, Capgemini; Ajish Gopan, VP and global head, Insurance Insights & Data, Capgemini; Tej Vakta, global head, Financial Services Sustainability Solutions, Capgemini; Hanno Mijer, global head, Zurich Resilience Solutions, Zurich Insurance Co.; Sean Rider, chief revenue officer, One Concern; and Sean Kevelighan, chief executive officer, Insurance Information Institute. This complimentary AM Best Webinar was sponsored by Capgemini. Webinar Highlights How Auto Insurers Are Leveraging Market Disruptions Accelerated by COVID-19 Insurance professionals explore insights that can help organizations make the best decisions now and in the future. This complimentary AM Best Webinar was sponsored by LexisNexis Risk Solutions. Emerging Trends and the Wholesale Insurance Market: How the Industry Is Adapting Apanel of insurance experts discusses the wide- ranging issues and trends shaping the wholesale market. This complimentary AM Best Webinar was sponsored by Liberty Mutual Insurance. How Active Risk Management Drives Better Insurance Underwriting An active risk management program is the best way to stay on top of changing risks and be ready to address potential loss ratio and premium leakage on your renewal book. Panel members explore best practices, types of changes to look for, and the data that helps in understanding potential problems. This complimentary AM Best Webinar was sponsored by LexisNexis Risk Solutions. Panel to Explore the State of the Captive Insurance Sector Professionals also examine how insurers can counter climate change through resiliency and discuss the wholesale insurance market. To Read the Magazine Online Go to www.bestreview.com. On Social Media Go to @AMBestCo on Twitter, follow AM Best Information Services on LinkedIn and on YouTube. For information about how to follow AM Best on social media, go to www.ambest.com/socialmedia. Best’s Review delivers a comprehensive package of property/casualty and life/health insurance industry news, trends and analysis monthly. Find us on the internet at www.bestreview.com. The latest edition of Best’s Guide to Understanding the Insurance Industry is available on Amazon.66BEST’S REVIEW • AUGUST 2022 AM Best TV & Audio Allianz: Businesses Must Prepare for Rising Social Unrest The cost-of-living crisis, on the heels of the pandemic and social media amplifications, has created an environment ripe for civil unrest, said Srdjan Todorovic, head of Global Political Violence & Hostile Environment Solutions at Allianz. A Shift in Tornado Activity Could Change the Risk Profile in Certain States, Drive New Crop Losses A shift in Tornado Alley to the south and east could bring increased property, crop, auto and other losses to states such as Alabama, Mississippi and Kentucky, while states in the central U.S. might soon see fewer insured losses. LIMRA’s Tumicki: Some Patients Lacking Insurance Turn to Savings When Unable to Work One-fourth of Americans say they would withdraw money from their retirement accounts or incur withdrawal penalties if they are disabled and need money to replace lost income, said Elaine Tumicki, corporate vice president, LIMRA. TransUnion’s Jackson: Inflation Pushing Insurance Consumers Toward Telematics Inflation drove a 33% surge in auto telematics adoption in the first quarter of 2022, said Michelle Jackson, senior director, personal property and casualty, TransUnion, referencing a new study. Visit www.ambest.com/ambtv to see new and archived video from AM Best TV. Allianz Executive Warns Businesses Must Be Ready for Rising Social Unrest Also, industry professionals discuss Tornado Alley shift, lack of disability insurance and a surge in auto telematics adoption. On Demand Srdjan Todorovic Steve Bowen Elaine Tumicki ProAssurance Corp. CEO: Pricing, Inflation, Large Jury Awards Affecting MPLI Sector Also, AM Best audio explores how carriers are streamlining the auto claims process. ProAssurance Corp. CEO: Pricing, Inflation, Large Jury Awards Hold MPLI Sector in Flux Abundant capacity is seen as a price depressant across the medical professional liability insurance sector, said Edward L. “Ned” Rand Jr., chief executive officer, ProAssurance Corp. Workflow Solutions Changing Auto Claims for Carriers Tanner Sheehan, vice president and general manager, U.S. claims at LexisNexis Risk Solutions, discusses how carriers are making the claims process fast, efficient and fair. BR Michelle Jackson Visit www.ambest.com/ambaudio to listen to new and archived audio from AM Best Audio.Best’s Credit Rating Actions 67BEST’S REVIEW • AUGUST 2022 T his edition lists all Credit Rating actions that occurred between June 1 and June 30, 2022. For the Credit Rating of any company rated by AM Best and basic company information, visit the AM Best website at www.ambest.com/ratings/access.html or download the ratings app at www.ambest.com/sales/ambmobileapp. Rating Action Business Type Company Name/ Ultimate ParentAMB# CurrentPrevious Domicile FSR ICR Outlook/ Implications FSR ICR Outlook/ Implications AMERICAS LIFE/HEALTH Rating Affirmation L 777 Re. Ltd. 777 Partners LLC 074522 A-StableA- uDeveloping Bermuda a-Stablea- uDeveloping UpgradeH Amer Family Life Assur Co of Columbus Aflac Incorporated 006051 A+StableA+Stable Nebraska, USA aaStableaa-Positive UpgradeH Amer Family Life Assur Co of New York Aflac Incorporated 006063 A+StableA+Stable New York, USA aaStableaa-Positive Outlook Change L American Retirement Life Insurance Co Cigna Corporation 008831 AStableAStable Ohio, USA aPositiveaStable Initial Rating L Aurora National Life Assurance Company Reinsurance Group of America, Inc. 006139 A+StableNR California, USA aa-Stablenr UpgradeH Blue Cross & Blue Shield of Mississippi Blue Cross & Blue Shield of Mississippi 060217 AStableAStable Mississippi, USA a+StableaPositive UpgradeL Bluebonnet Life Insurance Company Blue Cross & Blue Shield of Mississippi 068175 AStableAStable Mississippi, USA a+StableaPositive Outlook Change H Cigna Dental Health of California, Inc. Cigna Corporation 060171 AStableAStable California, USA aPositiveaStable Outlook Change H Cigna Dental Health of Florida, Inc. Cigna Corporation 060173 AStableAStable Florida, USA aPositiveaStable Outlook Change H Cigna Dental Health of Maryland, Inc. Cigna Corporation 060176 AStableAStable Maryland, USA aPositiveaStable Outlook Change H Cigna Dental Health of Missouri, Inc. Cigna Corporation 064702 AStableAStable Missouri, USA aPositiveaStable Outlook Change H Cigna Dental Health of New Jersey, Inc. Cigna Corporation 060184 AStableAStable New Jersey, USA aPositiveaStable Outlook Change H Cigna Dental Health of Ohio, Inc. Cigna Corporation 060179 AStableAStable Ohio, USA aPositiveaStable Outlook Change H Cigna Dental Health of Pennsylvania Cigna Corporation 060180 AStableAStable Pennsylvania, USA aPositiveaStable Outlook Change H Cigna Dental Health of Texas, Inc. Cigna Corporation 060181 AStableAStable Texas, USA aPositiveaStable Outlook Change H Cigna Dental Health of Virginia, Inc. Cigna Corporation 064706 AStableAStable Virginia, USA aPositiveaStable Outlook Change H Cigna Dental Health Plan of Arizona Cigna Corporation 060170 AStableAStable Arizona, USA aPositiveaStable Outlook Change H Cigna Health and Life Insurance Company Cigna Corporation 006871 AStableAStable Connecticut, USA aPositiveaStable Outlook Change H Cigna HealthCare of Arizona, Inc. Cigna Corporation 068726 AStableAStable Arizona, USA aPositiveaStable Outlook: Positive, Negative, Stable. Implications: Positive, Negative, Developing. Business Type: P = Property/Casualty (Nonlife); L = Life; H = Health; T = Title; C = Composite. Opinion Modifiers: u = Under Review; sf = Structured Finance; i = Indicative Credit Rating Modifier; s = Syndicate Credit Rating Modifier Operating CompaniesNext >