A.M. Best has revised the outlooks to positive from stable and affirmed the financial strength rating of “B++ (Good)” and the issuer credit ratings of “bbb+ for Zale Indemnity and its wholly owned subsidiary, Zale Life Insurance Company.
According to A.M. Best, the ratings for Zale Indemnity, which acts as a captive insurer for the customers of its intermediate parent, Zale Corporation, reflect the strong underwriting and operating results.
The ratings for Zale Life reflect its role as a provider of credit insurance within Zale Corporation and its favourable level of risk-adjusted capitalisation.
A.M. Best believes that the ratings for Zale Life reflect its role as a provider of credit insurance within Zale Corporation and its level of risk-adjusted capitalisation, strong liquidity and the high credit quality of its investment portfolio.
Positive rating factors for Zale Indemnity include continued stability at both the captive and the parent while maintaining strong operating results and risk-adjusted capitalisation, according to A.M. Best.
