![]() It also has a positive and reliable credit rating.ĮMC National Life currently holds an “ A-” from A.M. It is also coming off record highs in capital and surplus with more than $122 million in reserve.Ĭurrently, EMC National Life has $900 million in total invested assets and $13 billion of insurance in force. Financial Strength and Ratingsīased on end-of-the-year reports from 2018, EMC National Life has $2.9 billion in total assets. The Independent Insurance Agents & Brokers of America ( IIABA) gives this national award to recognize companies for outstanding contributions.ĮMC National Life also supports a wide range of charitable organizations in Iowa, including the Greater Des Moines Botanical Garden, Iowa College Foundation, and the United Way. It’s their way of making the insurance process easy.ĮMC Insurance Companies earned the Best Practices Award for Excellence in 2019. The emphasis on accessibility means representatives can respond quickly and efficiently to each area’s market and business needs.ĮMC National strives to uphold the pillars of Honesty, Integrity, Service, Teamwork, and Continuous Improvement. This client-friendly partnership fuels their slogan of “Making Life Easy.”Īdditionally, EMC National Life has a network of 20 branch and service offices spread across the country with over 2,300 employees. This intimacy is possible because EMC National Life partners with independent agents during the insurance process. The company is well-known for its steadfast dedication to personalized service. Policyholders have 51% of the common voting stock through the holding company. Under the current structure, EMC holds 49% of the common voting stock. It was formed as a result of a merger between Employers Modern Life Company and National Travelers Life Company in July of 2003. Quick LinksĮMC National Life Company is a subsidiary of EMC Insurance Companies in Des Moines, Iowa. While EMC National is fairly young, its short but successful track record might just warrant a spot on your shortlist of life insurance companies. What do you do when you encounter a provider like EMC National Life Company, which was formed in the 21st century? There are the premiums, policy types, and underwriting process to examine, not to mention the company’s history and its financial stability.Īs you weed through the details, you may be wondering how much the company’s age should factor into your decision. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.When it comes to picking the right life insurance company, you have a lot of factors to consider. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.ĪM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. 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. This press release relates to Credit Ratings that have been published on AM Best’s website. In addition, the recent announcement that EMC Re will be exiting the assumed reinsurance business in 2023 leaves a very limited business profile. This has hampered EMC Re’s net profitability and overall operating performance. The downgrade of EMC Re’s Long Term ICR reflects the significant volatility in underwriting performance in recent years, due to increasing losses from catastrophic weather events both domestically and internationally. The ratings reflect EMC Re’s balance sheet strength, which AM Best assesses as very strong, as well as its marginal operating performance, very limited business profile and appropriate enterprise risk management. The ratings of the members of EMC Insurance Companies and EMC National Life Company remain unchanged. Concurrently, AM Best has withdrawn these ratings as the company’s management has requested to remove this entity from AM Best’s interactive rating process. The outlook of these Credit Ratings (ratings) has been revised to stable from negative. Oldwick //BestWire// - AM Best has downgraded the Financial Strength Rating to B++ (Good) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” (Good) from “a” (Excellent) of EMC Reinsurance Company (EMC Re) (Des Moines, IA).
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