Fitch Affirms Navy Mutual's Insurer Financial Strength Rating at ‘A+’
Published on August 06, 2013
"CHICAGO, August 05 (Fitch) Fitch Ratings has affirmed Navy Mutual Aid Association's (NMAA) Insurer Financial Strength (IFS) rating at 'A+'. The Rating Outlook is Stable. KEY RATING DRIVERS NMAA's IFS rating and Stable Outlook reflect the association's strong capital levels, high-quality and liquid investment portfolio, and conservative financial profile. Product liabilities are predominantly composed of term and universal life insurance products which have predictable cash flows and are free of more volatile variable annuity products. Fitch views as additional strengths NMAA's conservative reserving, excellent persistency, and consistently low expense ratios..."