AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a+” (Excellent) of Ameritas Life Insurance Corp. (Lincoln, NE) and Ameritas Life Insurance Corp. of New York (New York, NY). These insurance entities comprise the life/health operations of Ameritas Mutual Holding Company (all companies are collectively referred to as Ameritas). Concurrently, AM Best has affirmed the Long-Term Issue Credit Rating (Long-Term IR) of “a-” (Excellent) of the group’s surplus notes (see below for details of the Long-Term IR). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect Ameritas’ balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, favorable business profile and appropriate enterprise risk management.

Ameritas’ risk-adjusted capitalization level is consistently in the strongest category, as measured by Best’s Capital Adequacy Ratio (BCAR), and the company has financial flexibility and liquidity. However, AM Best notes that Ameritas has stable but elevated allocations to NAIC-2 class bonds and less-liquid private placement fixed-income securities, while maintaining a material but declining allocation to mortgage loans.

Ameritas has reported a trend of positive earnings on a GAAP basis in recent years, while statutory earnings have been more mixed, but generally positive over the long term. Ameritas has benefited from a diverse product portfolio covering life, annuity, and accident and health insurance products on an individual and group basis.

Ameritas continues to maintain a market-leading position in group dental sales and continues to have strong life, annuity and individual disability sales in recent years. Ameritas has demonstrated appropriate risk management capabilities.

The following Long-Term IR has been affirmed with a stable outlook:

The Union Central Life Insurance Company (merged into Ameritas Life Insurance Corp., effective July 1, 2014) —

-- “a-” (Excellent) on $50 million 8.20% surplus notes, due 2026

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.

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