NEWS FROM VANTIS LIFE INSURANCE COMPANY
For Immediate Release
Contact: Craig Simms
New credit rating follows Vantis' acquisition by Penn Mutual Life Insurance Companye
WINDSOR, Conn., March 9, 2017 - Vantis Life Insurance Company (Vantis Life), a life insurance provider that offers solutions to financial institutions that service middle-income Americans, has received an upgraded credit rating from A.M. Best.
Vantis Life's Financial Strength Rating (FSR), which was previously A- and considered under review with positive implications, is now A (Excellent) with a stable outlook. The Long-Term Issuer Credit Rating (Long-Term ICR) has been changed from "a-" to "a" with a positive outlook.
A.M. Best made the decision to upgrade the credit rating in large part due to Vantis Life's new relationship with established life insurance provider Penn Mutual Life Insurance Company (Penn Mutual), which acquired Vantis Life effective Dec. 31, 2016. A.M. Best analysts asserted that "Vantis Life benefits from its new position as a subsidiary of Penn Mutual, a larger and financially stronger mutual insurance organization."
"Vantis Life has long been a stable, strong and growth-oriented company, and those characteristics are now amplified with the support of Penn Mutual," Peter Tedone, President and CEO of Vantis Life, said. "We're pleased that A.M. Best has recognized our potential for long-term success by upgrading our credit rating and providing a positive outlook for our firm."
A.M. Best is the world's oldest and most authoritative insurance rating and information source.
About Vantis Life:
Established in 1942, Vantis Life Insurance Company's primary goal is to provide families affordable life insurance and annuity products. Vantis Life markets its products through financial institutions and direct to the consumer. The Company prides itself on providing simple, easy-to-afford products to middle-income American families and supporting these products with attentive and personal customer service. .