Litigation

Presidential Life Insurance Company has had its A.M. Best rating affirmed at B+ (Good).  In a May 25, 2010 press release A.M. indicated that it had removed the notation "under review with negative implications" from both Presidential Life Insurance Company and its parent Presidential Life Corporation. 

A.M. Best stated that  "the stable outlook reflects Presidential Life's increase in new business writings, continued profitable operating posture and favorable capitalization rates".

The Nyack, New York based life insurer may not be familiar to less experienced settlement professionals, lawyers and liability insurers, as it was primarily on the mainstream structured settlement radar  in the late 1980s-very early 1990s. The company has had some significant structured settlement cases on the books  for over 20 years and the A.M. Best news is as encouraging in a way, as last week's announcement of the upgrade of Transamerica Life Insurance Company from A (Excellent) to A+(Superior).

In a time when there continue to be banking jitters it is notable that there is movement in the area of confidence in the financial strength of insurers