KBRA Affirms and Subsequently Withdraws the Rating for Ozark National Life Insurance Company
3 Jun 2025 | New York
KBRA affirms the A- insurance financial strength rating (IFSR) for Ozark National Life Insurance Company (ONL) and removes the Watch Developing status. The Rating Outlook is Developing. KBRA subsequently withdraws the rating at the request of the company.
Until the closing of the sale, the rating reflected ONL’s status as one of Prosperity Group Holdings, LP’s (Prosperity) life insurance subsidiaries. On February 18, 2025, a stock purchase agreement was entered into for the sale of ONL and its affiliate, N.I.S. Financial Services, Inc., from National Western Life Insurance Company (NWLIC) and National Western Life Group (NWLG), respectively. NWLIC and NWLG are subsidiaries of Prosperity. The sale closed on May 30, 2025. The Developing Outlook reflects uncertainty with respect to the near-to-medium term impact of the acquisition of ONL on, among other things, its financial position, projected results, risk profile and business strategy as the acquirer executes its plan to absorb ONL into its organization.
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