RENO, Nev., April 30, 2012 /PRNewswire/ -- AMERCO (Nasdaq: UHAL) announced today A. M. Best, the world's oldest and most authoritative insurance rating and information source, has revised its outlook to positive from stable and affirmed the financial strength rating of B++ (Very Good) of its subsidiary Oxford Life Insurance Company (Oxford Life). This rating also applies to Oxford Life's three life insurance subsidiaries; Christian Fidelity Life Insurance Company, North American Insurance Company and Dallas General Life Insurance Company.
"We are pleased with the action taken by A. M. Best. Oxford Life continues to offer a value proposition that producers and insured customers find attractive, resulting in sustained growth and continued capital strength. Oxford Life's results are validated with increased revenue and profitability, strategic acquisitions, and new product offerings; while maintaining high standards of financial strength of our entire family of insurance companies," stated Mark A. Haydukovich, President of Oxford Life.
"Oxford Life focuses on providing products and services that promote the financial security of the rapidly growing, middle-segment of the senior market. The turbulence in financial and regulatory environments has increased seniors' needs for value-enhanced life insurance, Medicare supplement and retirement savings products. Our keen understanding of this market and strategy of providing value by saving time and money for our policyholders and producers through processing and underwriting efficiencies, has further contributed to our success in these seemingly uncertain times," stated Mike Quaranta, Vice President and Chief Marketing Officer of Oxford Life.
Founded in 1965, Oxford Life Insurance Company and its subsidiaries specialize in providing value-enhanced wealth transfer, final expense, retirement savings, and Medicare supplement solutions to the rapidly expanding senior market through independent marketing organizations and general agents.