NexAnnuity's Insurance Subsidiary Assigned a Financial Strength Rating of B+ by AM Best

DALLAS, March 21, 2023 /PRNewswire/ -- NexAnnuity announced today that its insurance subsidiary, The Ohio State Life Insurance Company ("OSL"), has been assigned a Financial Strength Rating of B+ (Good) and a Long-Term Issuer Credit Rating of "bbb-" (Good) by AM Best. The rating assignments reflect OSL's balance sheet strength, which AM Best assessed as adequate, as well as OSL's marginal operating performance, limited business profile, and appropriate enterprise risk management. The outlook assigned to these credit ratings is stable.

NexAnnuity is an affiliate of NexPoint Advisors, L.P., an alternative asset management firm with approximately $12.0 billion in assets under management ("AUM"), and is a related company of NexBank Capital, Inc., a financial services company with approximately $14.3 billion in assets. Through a group of investment, wealth management, and insurance businesses, NexAnnuity offers retirement solutions including fixed annuities, insurance services, and investment solutions to clients throughout the United States. 

In 2022, NexAnnuity issued approximately $100 million in fixed annuities, grew OSL's balance sheet by over 70%, and ended the year with over $370 million in AUM. NexAnnuity expanded the availability of its fixed annuity products in 2022 to include California, Colorado, Louisiana, North Carolina, North Dakota, New Jersey, and South Dakota. As a result, its products are now available in 46 states and the District of Columbia.  NexAnnuity plans to expand its product offering to include a fixed index annuity and other fixed annuity products in 2023.

"We are pleased to receive these ratings from AM Best and look forward to building upon the progress we have made to enhance our retirement solutions business over the past several years," said Brad Heiss, Executive Vice President & Chief Investment Officer of NexAnnuity. "We believe there are significant opportunities for NexAnnuity to drive innovation in the annuity market and provide individuals with tailored annuity solutions that can help them secure a better future during retirement."

NexAnnuity was founded in 2018 and acquired OSL in 2019. Over the past four years, the company has significantly grown its presence in the annuity market. NexAnnuity draws on expertise and resources from an integrated organization comprised of financial and investment management businesses.

About NexAnnuity

NexAnnuity is a retirement solutions business based in Dallas, TX that was founded in 2018 and includes NexAnnuity Holdings, Inc., an insurance holding company that owns The Ohio State Life Insurance Company, as well as affiliates and subsidiaries that offer investment services through SEC-registered investment advisors, insurance services, wealth management, and annuity and insurance distribution services to clients throughout the US.  NexAnnuity's Nex MYGA fixed annuities are issued by The Ohio State Life Insurance Company.  NexAnnuity also distributes annuity and life products offered by non-affiliated insurance companies. For more information, visit nexannuity.com.

About NexPoint

NexPoint is a leading alternative investment platform that provides differentiated access to alternatives through a range of investment offerings, including publicly traded real estate investment trusts (REITs), Regulation D private placements, 1031 exchanges, closed-end funds, interval funds, mutual funds, and a business development company (BDC). Based in Dallas, Texas, NexPoint is a multibillion-dollar integrated alternative asset manager. NexPoint launched out of an institutional asset management group known as a pioneer in the leveraged loan market. This credit investment expertise served as a cornerstone to the NexPoint platform and provided a solid foundation to evolve the business model and expand their capabilities into real estate, capital markets, and most recently insurance and annuities. For more information, visit nexpoint.com.

About NexBank Capital, Inc.

NexBank Capital, Inc. is a Dallas-based financial services company that provides financial and banking services primarily to institutional clients, financial institutions, and corporations nationwide. Through its subsidiary, NexBank, the largest privately held bank in Texas with $14 billion in assets, it provides its clients with institutional banking, commercial banking, and mortgage banking services.

www.NexBank.com
NexBank | Member FDIC | Equal Housing Lender

Contact
Jon Marino
Prosek Partners for NexAnnuity
[email protected]

SOURCE NexAnnuity