Company Research Report: Prosperity Life Group

Company Overview

Name: Prosperity Life Group

Mission of the Company: To offer innovative insurance, reinsurance, and asset management solutions, focusing on capital and risk-management solutions while fostering financial security through tailored products in life insurance, asset accumulation, and supplemental health.

Founded: 2009

Founders: Black Diamond Capital Partners and Reservoir Capital Group, LLC.

Key People: Nicholas von Moltke (Chief Executive Officer)

Headquarters:

New York, NY (SBLI USA Life Insurance Company, Inc.)

Roanoke, VA (S.USA Life Insurance Company, Inc. and Shenandoah Life Insurance Company)

Number of Employees: No information is available

Revenue: No information is available

Assets Under Management: $16.1 billion as of June 30, 2022

Years of Experience: Over 100 years of life insurance experience

Known For:

Life insurance

Annuities

Reinsurance

Asset Management

Products

1. Life Insurance

Permanent Life Insurance

Includes Final Expense Whole Life, Universal Life, and SeniorLife

Key Features: Guaranteed level premiums, lifelong protection, tax-deferred cash accumulation

Term Life Insurance

Includes Family Freedom Term, PrimeTerm to 100, and Simple Issue Term

Key Features: Affordable coverage for a limited period, convertible policies, no cash value accumulation

2. Universal Life Insurance

Fixed Universal Life

Key Features: Guaranteed interest for a period, minimum guaranteed rates, stable growth

Indexed Universal Life

Key Features: Options for fixed and indexed accounts, participation in market upside without risk, accelerated death benefits for illnesses

3. Annuities

Fixed Deferred Annuities

Fixed Indexed Deferred Annuities

Key Features: Tax-deferred growth, flexible income payment options, penalty-free withdrawals under certain conditions

4. Reinsurance and Asset Management

Specializing in credit and niche asset opportunities

Recent Developments

Recent Acquisitions:

Acquisition of National Western Life Group, enhancing life and annuity offerings

Recent Credit Ratings:

KBRA affirmed the 'BBB-' issuer credit rating for Prosperity Group Holdings, LP with a stable outlook

S&P Global Ratings assigned 'A-' long-term issuer credit and financial strength ratings to affiliated companies including S.USA

New Partnerships: No specific partnerships mentioned

Fraud Alerts:

Prosperity has been addressing fraudulent employment scams involving the misuse of the company's name and logo.

Financial Ratings

AM Best Rating:

Financial Strength Rating: A- (4th highest of 15 ratings)

Issuer Credit Rating: A-

Kroll Rating:

Insurer Financial Strength Rating: A-

S&P Global Rating:

Financial Strength Rating: A-

Outlook: Stable for all above ratings

Conclusion

Prosperity Life Group leverages its extensive history and expertise in the insurance sector, continuously strengthening its market position through strategic acquisitions and innovative product offerings. Its strong financial ratings by renowned agencies establish its reliability and financial health in the industry.