Link TextGreat American Financial Resources financial strength rating got another thumbs-up from A.M. Best Co., but saw its key life and health units outlook rating move from stable to negative. A.M. Best cited the companys consistently profitable operating performance, favorable liquidity position and solid risk-adjusted capitalization, and the breadth and depth of its distribution channels, for its reaffirmation.
The economy took its toll on the insurer, however, as the ratings company cite the downturn, along with Great Americans exposure to financial-sector corporate bonds and mortgage-backed securities as the rationale behind the drop in its outlook rating.
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