A.M. Best Co. has affirmed the financial strength rating of B++ (Very Good) and assigned an issuer credit rating of "bbb" to Bankers Fidelity Life Insurance Company (Bankers Fidelity) (Atlanta, GA). Bankers Fidelity is the life/health insurance subsidiary of Atlantic American Corp. (NASDAQ: AAME) (Atlanta, GA). The outlook for both ratings is stable.
The rating assignment reflects the company's continued profitable operating results, its regional presence in the senior health insurance market and its evolving business strategy. However, Bankers Fidelity is currently reliant upon the heavily regulated and increasingly competitive Medicare supplement market. In recent years, Bankers Fidelity has also experienced a decline in its final expense life insurance production, which has offered diversity to its business mix.
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