The Companion Life Insurance Company earned a financial strength rating of A+ from the A.M. Best Company. This marks the 15th consecutive year the Columbia-based company, which is a unit of BlueCross BlueShield of South Carolina, has received the A+ rating.
“Fifteen years of this achievement reflects the organization’s overall stability and financial strength in an uncertain world,” Companion Life President Phillip Gardham said in a statement. “This rating should provide a strong level of comfort to our policyholders and business partners.”
Companion Life, and its subsidiaries Niagara Life and Health and Companion Life Insurance Company of California, earned the superior rating by showing stable premium and earnings growth, as well as a strong level of risk-adjusted capitalization in support of its business and insurance risk, a release said.
“We are well positioned for the future, as we now have a nationwide presence due to our outstanding subsidiaries,” Gardham said.