Partially offsetting these positive rating factors are Triton’s distribution dependence on OneMain Financial and CitiFinancial Canada and the underwriting sensitivity of its involuntary unemployment insurance business regarding initial unemployment claims filed in the United States and Canada. This is evidenced by Triton’s substantially lower underwriting profitability in 2008 and 2009 and its rebound in underwriting profitability in more recent years.While the companies are well positioned at their current rating levels, there could be negative pressure on the ratings and/or outlook should operating performance or risk-based capital measures materially deteriorate or any material change should occur in the rating of the banking parent.
A.M. Best Affirms Ratings Of American Health And Life, Sears Life And Triton Insurance Companies
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