A.M. Best Upgrades Ratings of Foresters Life Insurance Company

A.M. Best Co. has upgraded the financial strength

Foresters’ ratings always reflect its long-established fraternal and insurance presence in the Big Canadian and U.S. marketplace, its strong huge risk-adjusted capitalization as measured by the Best’s Capital Adequacy Ratio and definite positive operating results, despite the continuation of low interest rate surrounding environment.

A.M. Best Co. has upgraded the financial strength rating (FSR) to A (Excellent) from A- (Excellent) and issuer credit rating (ICR) to “a” from “a-” of Foresters Life Insurance Company (Foresters Life) (Mississauga, ON). Concurrently, A.M. Best has affirmed the FSR of A (Excellent) and ICR of “a+” of The Independent Order of Foresters (Foresters) (Toronto, ON). A.M. Best also has affirmed the FSR of A- (Excellent) and (ICR of “a-” of First Investors Life Insurance Company (FIL) (New York, NY). The outlook for all ratings is stable.

The upgrading of the ratings for Foresters Life reflects the enhanced importance the company has to Foresters. This is demonstrated by the increased marketing and expense synergies that Foresters Life has with Foresters and its role in increasing the group’s revenue contribution from the Canadian market. Foresters Life continues to be positioned as the strategic marketing arm for Foresters’ life insurance operations in Canada following its acquisition in 2008. In January 2012, the company’s name was changed from Unity Life to Foresters Life in order to leverage the marketing and branding strength of its parent.

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