About Security Benefit
Building on a legacy spanning more than 130 years, Security Benefit Life Insurance Company has established itself as one of the fastest growing and most innovative companies in the retirement space over the last decade.
Through a combination of product innovation, exceptional investment management, and a unique distribution strategy, Security Benefit Life Insurance Company has become a leader in multiple retirement markets: overall fixed annuity sales, bank market fixed annuity sales, the K-12 education market, and overall fixed index annuity sales.
We are well prepared to honor our financial commitments as we fulfill our promise to help consumers across America To and Through Retirement®.
|SBLIC Financial Strength Rating|
|Total Adjusted Capital2||A.M. Best3||DBRS Morningstar4||FitchRatings5||S&P® Global Ratings6|
All ratings pertain to Security Benefit Life Insurance Company and First Security Benefit Life Insurance and Annuity Company of New York. Ratings are assigned by independent third-party rating agencies and bear no relation to the investment performance of assets held in any of Security Benefit Life Insurance Company’s or First Security Benefit Life Insurance and Annuity Company of New York’s separate accounts. Rating agencies take many factors into account when assigning a financial strength or claims-paying rating to an insurer. For a more complete understanding of the reasons for the ratings assigned, please refer to the ratings assessment.
A.M. Best’s rating represents an overall opinion of an insurance company’s ability to meet its obligations to policyholders and is derived by evaluating the financial strength, operating performance, and market profile of an insurance company in comparison with quantitative and qualitative standards of a peer life/health industry composite. A.M. Best ratings range from A++ (Superior) to S (Rating Suspended).
The rating provides an opinion on the financial strength of the insurer and its ability to satisfy its financial obligations in accordance with the policy or insurance contract terms under which an obligation has been issued. Ratings are based on quantitative and qualitative considerations relevant to the insurer, as well as the relative ranking of claims. Moreover, all rating categories from AA to CCC contain the subcategories (high) and (low). The absence of either a (high) or (low) designation indicates the rating is in the middle of the category.
Fitch Ratings evaluates key credit factors including financial ratios, quantitative elements, and performance relative to peers. Rating committees also weigh several criteria including overall business profile, capitalization and leverage, and financial performance and earnings when evaluating the final rating.
Standard & Poor’s®
S&P® ratings are a current opinion of the financial strength of an insurance organization and its capacity to meet senior obligations to policyholders and contract Owners on a timely basis. The ratings are assigned to the insurance organization itself and do not address the suitability of a particular policy or contract for a specific purpose or purchaser. S&P® ratings range from AAA (Extremely Strong) to R (Under Regulatory Supervision) and short-term ratings range from A-1 (Strong) to R (Under Regulatory Supervision).
1As of 6/30/2023
2As of 6/30/2023, Security Benefit Life Insurance Company’s total admitted assets were $52.6 billion and liabilities were $47.3 billion. Total adjusted capital (TAC) of $6.5 billion includes $5.4 billion of capital and surplus plus $1.1 billion of asset valuation reserve.
3A.M. Best, 12/21/2022
4DBRS Morningstar, 5/9/2023
5Fitch Ratings, 9/9/2022
6S&P Global Ratings, 11/17/2022
Summaries of statutory financial information for Security Benefit Life Insurance Company are available for your review and reference.
This statutory financial information of SBL is presented on the basis of accounting practices prescribed or permitted by the Kansas Insurance Department. The Kansas Insurance Department recognizes only statutory accounting practices prescribed or permitted by the State of Kansas for determining and reporting the financial condition and results of operations of an insurance company for purposes of determining its solvency under the Kansas Insurance Law. The National Association of Insurance Commissioners’ (NAIC) Accounting Practices and Procedures Manual has been adopted as a component of prescribed or permitted practices by the State of Kansas.
Recent Accolades for Innovation and Excellence
Since our beginning, we have been grateful recipients of numerous industry accolades and recognition. Below are just a few of our recent recognitions.
Named to Ward’s 50 list for 2021
Security Benefit Life Insurance Company has again been named to the Ward’s 50 list for 2021. The Ward’s 50® companies rank as the top performing life-health companies based on Ward’s annual analysis of more than 700 life-health firms in the #insurance industry. Security Benefit Life passed all safety and consistency screens and achieved superior performance over the past five years analyzed. Learn about Ward's 50 Companies.
Placed in Top 5 of Ingram’s list of Top 100 Privately Held Companies for 2021
Security Benefit continues to be one of the largest and most successful employers in the Kansas City region, again placing in the top 5 of Ingram’s list of Top 100 Privately Held Companies for 2021. A stalwart in the financial services industry since 1892, Security Benefit’s 2020 revenues jumped $1.5 billion, or more than 36%, the largest increase in the list’s top 10. See the complete list from Ingram's May 2021 issue.
Named as Ingram’s ‘Best Companies to Work For’ in 2021
“As one of Ingram’s ‘Best Companies to Work For’ in 2021, we’ve had to work hard to re-invent ourselves over the past decade,” stated Mike Kiley, Chief Executive Officer of Security Benefit. “Supporting our people, and giving them opportunities to shine, made us a leader in the U.S. retirement industry.” Read the complete article from Ingram's May 2021 issue.
Named to Forbes’ Inaugural “America’s Best State Employers” List
Named the EQDerivatives 2018 “Insurance Risk Management Team of the Year” for risk management for fixed index annuities6
Named the EQDerivatives 2017 “Insurance Risk Management Team of the Year” for risk management for fixed index annuities6
Access to Private Investor Relations Portal
New Users can request access to the Private Investor Relations Portal or contact the Investor Relations team with questions. We require 1-2 business days to process the request.