AM Best Affirms Credit Ratings of Anthem, Inc. and Its Subsidiaries
Furthermore, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICRs of “a-” of the
The outlook of these Credit Ratings (ratings) is stable. See below for detailed listing of the companies and Long-Term IRs.
Anthem Health’s risk-adjusted capitalization is viewed as strongest, as measured by Best’s Capital Adequacy Ratio (BCAR).
Anthem Health’s ERM is managed by Anthem in conjunction with local oversight and involvement. Anthem has a well-established, developed ERM program that has a formalized governance structure and is considered appropriate for its risk profile. Risk identification and reporting are completed on a regular basis throughout the year and incorporated into the organization’s strategic planning process.
Anthem has strong and well-diversified revenue and earnings through its
The ratings of
The ratings of AMERIGROUP reflect its balance sheet strength, which AM Best categorizes as weak, as well as its strong operating performance, favorable business profile, appropriate ERM and its strategic importance to Anthem. On a consolidated basis, capitalization for the AMERIGROUP operating entities has increased to nearly
The ratings of UNICARE reflect its balance sheet strength, which AM Best categorizes as adequate, as well as its adequate operating performance, limited business profile, appropriate ERM and support from as well as strategic importance to Anthem. On a consolidated basis, capital for the UNICARE operating entities increased significantly in 2019 due to a sizeable contribution from its parent combined with positive operating results. As a result, the companies’ risk-adjusted capital has improved dramatically in support of their current growing business and investment risk. Investments are conservative and provide sufficient liquidity to the group. UNICARE has produced good operating results in aggregate, although premiums and earnings have fluctuated widely. Earnings increased again through year-end 2019, as did business growth, mainly from assumed business. UNICARE is one of Anthem’s brands in the Medicaid market and has a limited scope of business, writing primarily Medicaid and dual Medicare-Medicaid business. Through UNICARE, Anthem has licenses in all 50 states,
The FSR of A (Excellent) and the Long-Term ICRs of “a+” of the following subsidiaries of
-
Anthem Blue Cross Life and Health Insurance Company -
Anthem Health Plans of Kentucky, Inc. -
Anthem Health Plans of Maine, Inc. -
Anthem Health Plans of New Hampshire, Inc. -
Anthem Health Plans of Virginia, Inc. -
Anthem Health Plans, Inc. -
Anthem Insurance Companies, Inc. -
Anthem Kentucky Managed Care Plan, Inc. -
Anthem Life & Disability Insurance Company -
Anthem Life Insurance Company - BlueCare Health Plan
-
Blue Cross Blue Shield Healthcare Plan of Georgia, Inc. -
Blue Cross Blue Shield of Wisconsin -
Blue Cross of California -
Community Insurance Company -
Compcare Health Services Insurance Corporation -
Empire HealthChoice Assurance, Inc. -
Empire HealthChoice HMO, Inc. -
Greater Georgia Life Insurance Company -
HealthKeepers, Inc. -
Healthy Alliance Life Insurance Company -
HMO Colorado, Inc. -
HMO
Maine -
HMO Missouri, Inc. -
Matthew Thornton Health Plan, Inc. -
Rocky Mountain Hospital and Medical Service, Inc.
The FSR of A- (Excellent) and the Long-Term ICRs of “a-” of the following subsidiaries of
-
UNICARE Life & Health Insurance Company -
UNICARE Health Plan of West Virginia, Inc. -
AMERIGROUP Community Care of New Mexico, Inc. -
AMERIGROUP Maryland, Inc. -
AMERIGROUP New Jersey, Inc. -
AMERIGROUP Tennessee, Inc. -
AMERIGROUP Texas, Inc. -
AMGP Georgia Managed Care Company, Inc. -
AMERIGROUP Washington, Inc. -
AMERIGROUP Insurance Company -
AMERIGROUP Kansas Inc. -
Community Care Health Plan of Louisiana, Inc. -
Community Care Health Plan of Nevada, Inc.
The following Long-Term IRs have been affirmed with a stable outlook:
Anthem, Inc.—
-- “bbb+” on
-- “bbb+” on
-- “bbb+” on
-- “bbb+” on
-- “bbb+” on
-- “bbb+” on
-- “bbb+” on
-- “bbb+” on
-- “bbb+” on
-- “bbb+” on
-- “bbb+” on
-- “bbb+” on
-- “bbb+” on
-- “bbb+” on
-- “bbb+” on
-- “bbb+” on
-- “bbb+” on
-- “bbb+” on
-- “bbb+” on
-- “bbb+” on
-- “bbb+” on
-- “bbb+” on
-- “bbb+” on
-- “bbb+” on
-- “bbb+” on
-- “a-” on
The following Short-Term IR has been affirmed:
Anthem, Inc.—
-- AMB-2 on commercial paper program
The following indicative Long-Term IRs have been assigned with a stable outlook to its new shelf registration. The ratings on the previous shelf registration have been withdrawn:
Anthem, Inc.—
-- “bbb+” on senior unsecured debt
-- “bbb” on subordinated debt
-- “bbb-” on preferred stock
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 media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in
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Director
+1 908 439 2200, ext. 5797
joseph.zazzera@ambest.com
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com
Senior Director
+1 908 439 2200, ext. 5280
sally.rosen@ambest.com
Director, Communications
+1 908 439 2200, ext. 5644
james.peavy@ambest.com
Source: AM Best
Joseph Zazzera, MBA
Director
+1 908 439 2200, ext. 5797
joseph.zazzera@ambest.com
Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com
Sally Rosen
Senior Director
+1 908 439 2200, ext. 5280
sally.rosen@ambest.com
Jim Peavy
Director, Communications
+1 908 439 2200, ext. 5644
james.peavy@ambest.com