AM Best Places American Heritage Life Insurance Company Credit Ratings Under Review with Negative Implications

AM Dear has revised the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “aa-” (Superior) of American Heritage Life Insurance Company (American Heritage) (Jacksonville, FL) with negative implications.

This follows the August 13, 2024 announcement that StanCorp Financial Group, Inc. (StanCorp) and The Allstate Corporation (Allstate) (NYSE: ALL) have entered into a definitive agreement under which StanCorp will acquire Allstate’s voluntary employer benefits. American Heritage’s credit ratings have been revised to negative implications pending the closing of the sale, which is subject to regulatory approval.