AM Best Removes From Under Review With Developing Implications and Affirms Credit Ratings of Ozark National Life Insurance Company
The ratings reflect Ozark's balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).
The ratings also reflect implicit support from Ozark's new parent company. On May 30, 2025, Ozark became a wholly owned subsidiary of Americo Financial Life and Annuity Insurance Company (AFL) (Dallas, Texas), which in turn, is wholly owned by Americo Life, Inc. (Americo) (Kansas City, MO). AFL acquired Ozark to continue its strategic growth objectives in the U.S. life insurance market, where it has focused traditionally on closing mortality protection gaps through technology-driven application and underwriting processes.
Ozark's risk-adjusted capitalization is assessed currently at the strongest level, as measured by Best's Capital Adequacy Ratio (BCAR); however, the company's statutory capital and surplus was relatively modest at approximately $137 million as of the acquisition date. Ozark reported approximately $27 million and $79 million of statutory earnings and net premiums in 2024 respectively, which primarily relates to its core individual whole life insurance product. This line of business is marketed alongside mutual funds offered by N.I.S. Financial Services Inc. This entity also was acquired by AFL.
Currently, Ozark has nominal market share in competitive markets, which lends more exposure to execution risk related to achieving operating scale and integrating with Americo's underwriting, investment, and ERM capabilities. AM Best will monitor Ozark's future capitalization against its growth initiatives, and its strategic importance and overall earnings contribution to Americo.
This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
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