American Equity receives financial strength rating upgrade

American Equity Investment Life Insurance Company (AEL) announced that it has received an upgrade to its Financial Strength Rating (FSR) from AM Best to “A” from “A-”. The upgrade is also applied to AEL’s subsidiaries, including American Equity Investment Life Insurance Company of New York and Eagle Life Insurance Company.

“AEL’s Financial Strength Rating upgrade from AM Best reflects our unwavering commitment to our policyholders and clients. Following the upgrade from S&P Global earlier this year, the “A” rating from AM Best acknowledges our financial strength and stability as we move forward prudently with the goal of continued growth.” – Jeff Lorenzen, CEO of AEL.

In addition, AM Best has affirmed the FSR of “A” and removed the credit watch for American National Insurance Company and all operating subsidiaries in the group, with the exception of Garden State Life Insurance Company, which remains under review.

“We are proud of our long history of financial strength and stability. AM Best recently recognized American National for our 83rd consecutive year of achieving an A rating or better; this affirmation of our A rating further demonstrates our commitment and ability to be a source of certainty for our clients.” – Tim Walsh, CEO of American National Insurance Company.

Long-Term Issuer Credit Ratings for each entity in the group have been confirmed to be “a” (Excellent).