(The following statement was released by the rating agency)
Rating Action On Sept. 21, 2012, Standard & Poor's Ratings Services affirmed its 'Api' counterparty credit and financial strength ratings on Southern Farm Bureau Life Insurance Co. (SFBL).
The ratings on SFBL reflect the company's strong growth and very strong capital adequacy and liquidity, as measured by our models. The company additionally benefitted from improved operating performance for 2011 relative to 2010 as seen from the pretax return on assets of 1.41%, compared with 1.06% in 2010.
SFBL commenced operations in 1946. It is a stock company based in Jackson, Miss., and is licensed in 12 states and Puerto Rico. SFBL's main product offerings are individual life insurance and individual annuities. The company is a member of Southern Farm Group. We rate SFBL on a stand-alone basis.
Related Criteria And Research Ratings Bearing A "pi" Subscript: Methodology And Assumptions, Feb. 9, 2011 Ratings List Ratings Affirmed Southern Farm Bureau Life Insurance Co. Counterparty Credit Rating Financial Strength Rating Api
(Caryn Trokie, New York Ratings Unit)