West Des Moines, Iowa — A.M. Best Company, a global rating agency focused on the insurance industry, has announced the affirmation of Homesteaders Life Company’s financial strength rating of A- (Excellent) with a stable outlook.
“To us, the A.M. Best affirmation represents a significant vote of confidence in our financial management philosophy and our ability to pay policy owner claims today and into the future,” said Homesteaders Executive VP-CFO Steve Pick. “Homesteaders remains dedicated to providing our policy owners and funeral home customers peace of mind with a consistently strong financial profile.”
Pick added that while 2020 was an unprecedented year, Homesteaders was able to operate from a position of strength and financial security, while maintaining forward momentum on key initiatives. Homesteaders’ sound investment strategy ensured its commitments to funeral professionals, agents and policy owners were honored, even in a global pandemic. In 115 years, Homesteaders has never failed to pay a claim.
“At a time when it seems there is so much uncertainty, it’s important to know that Homesteaders remains financially strong and unwavering in our commitment to success and long-term security,” shared Steve Shaffer, Homesteaders President, CEO and Board Chair. “This confirmation from A.M. Best is proof positive that we are making prudent decisions and putting our resources behind proactive problem solving. We’re building infrastructure today that will help achieve our long-term goal of helping funeral homes reach more families than ever before.”
To learn more about Homesteaders’ financial stability, view the company’s most recent annual report of company performance.
Homesteaders Life Company, a mutual company owned by its policy holders, is a national leader providing products and services to promote and support the funding of advance funeral planning and end-of-life expenses.
A.M. Best Company (ambest.com) is the world's oldest and most authoritative insurance rating and information source.
This rating from A.M. Best is effective April 2021. For the latest rating information, please visit www.ambest.com.