Funeral Insurance
Assurant Preneed, a component of Assurant, posted higher revenue and higher profits in their 3Q 2018 results that were made public after the market on Tuesday. You can read the company’s press release on its earnings report here. Assurant, a member of the Death Care Index (DCI), operates a world-wide conglomerate composed of three segments…
Read MoreA press release from A.M. Best that you can read here has revised the outlook to negative from stable for Funeral Directors Life Insurance Company of Abilene, Texas. The rating change also states that the negative outlook reflects the company’s “ERM” or enterprise risk management. The release also maintains that the company’s metrics “reflect the…
Read MoreIn two different articles that you can find here and here, the Life Insurance Council (LIC) reported on the results of their study of 2017 Preneed activity. The study found mixed results in that annual premiums for preneed life insurance was $1.3 billion – down 3% from 2016. The study also found that multi-pay policies…
Read MoreEarlier this year we told you of the acquisition of pre-need provider Great Western Insurance Company by the American Enterprise Group of Des Moines, Iowa. As of April 25, 2018, A.M. Best has completed their ratings on Great Western Insurance Company post acquisition. A.M. Best has upgraded, in a report you can read here, the…
Read MoreRecently I was reading a business plan of a public company funeral home consolidator and when talking about how they look at the pre-need market, they mentioned that they look at Pre-Need as a “defensive posture” for holding on to call volume. That was interesting to me because I have always looked at Pre-Need as…
Read MoreWhile not specific to the death care portion of their industry, A.M. Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) for the U.S. property/casualty subsidiaries of Assurant, Inc. The credit rating company has also affirmed the Long-Term Issuer Credit Ratings of Assurant at bbb+. Best continues that the outlook of these Credit…
Read MoreAn article from the Des Moines Register that you can read here gives some implications on the American Enterprise Group (AEG), a Des Moines based insurer, and its acquisition of Great Western Insurance Company of Utah. As you recall we made you aware of this acquisition last month on Funeral Director Daily and now that…
Read MoreMore than ever, in our transitionary society, funeral homes are depending on pre-arrangements, at a younger age, to get families to choose their funeral home over a competitor. People just don’t seem as loyal as years gone by and the thought is that the idea of getting some future business on the books can’t do…
Read MoreBack in the 1990s as our State of Minnesota began allowing insurance policies to be a repository for pre-need funeral arrangement funding, many funeral homes, mine included, started insurance agencies in order to profit from the decision. Since, Minnesota is a 100% trusting state, prior to that decision if a family gave you $5000 to…
Read MoreA press release from BusinessWire has indicated that the Great Western Insurance Company (GWIC) of Ogden, Utah, has had A.M. Best upgrade their Long-Term Issuer Credit Rating to “bbb+” from “bbb”. The outlook of the Long-Term ICR has been revised to stable from positive while the outlook of the Financial Strength Rating is stable. The…
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