Press Release (ePRNews.com) - CANTON, Mass. - Feb 15, 2017 - Boston Mutual Life Insurance Company, a national provider of insurance solutions for individuals and at the workplace, today announced that A.M. Best has upgraded the company’s credit ratings, a reflection of the rating agency’s improved opinion of Boston Mutual’s financial strength. A.M. Best, the oldest and most authoritative insurance rating and information source, has upgraded the financial strength rating (FSR) of both Boston Mutual and its subsidiary, Life Insurance Company of Boston & New York, from “A-” (Excellent) to “A” (Excellent), with a Stable outlook. In addition, both companies’ issuer credit rating (ICR) was also upgraded from “a-” to “a.”
“I’m pleased that A.M. Best has recognized the progress we have made with our strategic initiatives,” said Paul A. Quaranto, Jr., Chairman, Chief Executive Officer and President at Boston Mutual Life Insurance Company. “The rating upgrade to ‘A’ validates our strategic direction, and I’m proud of the hard work of our producers and employees in our goal of supporting the families we serve.”
A.M. Best attributed the ratings upgrade to “the cumulative effort and financial performance of Boston Mutual over a period of time. Efforts to enhance Boston Mutual’s business profile over the past few years have included rebranding the organization, reorganizing its operational units and increasing management personnel, which have led to improvements in sales and profitability and are viewed positively by A.M. Best.”
Boston Mutual was founded in Boston in 1891 and initially offered individual life insurance, adding employer group offerings in 1956 and worksite products in 1978. In 1988 the company organized its subsidiary, Life Insurance Company of Boston & New York, to offer comparable products in New York.
About Boston Mutual Life Insurance Company
Founded in 1891, Boston Mutual Life Insurance Company has enjoyed a long history of financial strength and stability. Headquartered in Canton, Massachusetts, Boston Mutual has been a recognized leader for more than 125 years in providing flexible insurance products to working Americans and their families in the private and public sectors of the USA. For more information, please visit http://www.bostonmutual.com or follow the company on Facebook (/BostonMutualLifeIns). Source :
Boston Mutual Life Insurance Company