What do annuity carrier ratings measure?

An A.M. Best financial strength rating is an opinion about an insurance company's ability to meet its ongoing contract obligations. It is not a rating of a specific annuity, its fees, or its crediting terms.

Is an A- rated annuity carrier weak?

No. A.M. Best groups A and A- together as Excellent, inside the secure range. The category matters far more than the plus or minus modifier attached to it.

Where do these ratings come from?

They are the A.M. Best financial strength ratings recorded in the AnnuityScore carrier network at the date shown on each profile. Ratings change over time and A.M. Best publishes the current rating.

Does a strong rating mean a good contract?

No. Carrier strength and contract quality are separate questions. A highly rated company can issue a contract with a long surrender schedule and modest crediting terms.

Confidential Carrier File

Annuity carrier ratings and profiles

Financial strength ratings tell you whether the company behind your contract can keep its promise. They tell you nothing about whether the contract itself was well built. These profiles cover both — the issuer, and what to read on the contract it wrote.

A.M. Best ratings for major annuity carriers

Ratings recorded in the AnnuityScore carrier network. A.M. Best publishes the current rating for every company it rates.

Compare carriers by rating tier and outlook · Superior · Excellent · Good

The full A.M. Best rating scale, A++ to D · Guaranty fund limits by state

Carrier	A.M. Best	Category	Headquarters
MassMutual	A++	Superior	Springfield, Massachusetts
Allianz Life	A+	Superior	Minneapolis, Minnesota
Athene	A+	Superior	West Des Moines, Iowa
Midland National	A+	Superior	West Des Moines, Iowa and Sioux Falls, South Dakota
Minnesota Life (Securian)	A+	Superior	Saint Paul, Minnesota
Nationwide	A+	Superior	Columbus, Ohio
North American Company	A+	Superior	West Des Moines, Iowa
Prudential	A+	Superior	Newark, New Jersey
F&G Annuities	A	Excellent	Des Moines, Iowa
Lincoln Financial	A	Excellent	Fort Wayne, Indiana
AmFirst (Axonic)	A-	Excellent	United States
Delaware Life	A-	Excellent	Zionsville, Indiana and Waltham, Massachusetts
American Life	B++	Good	Lincoln, Nebraska
EquiTrust Life	B++	Good	West Des Moines, Iowa
Heartland National Life	B++	Good	United States

Carrier profiles

A.M. Best A+ · Superior

Allianz Life

Fixed indexed annuities · Registered index-linked annuities

A.M. Best A+ · Superior

Nationwide

Fixed indexed annuities · Registered index-linked annuities

A.M. Best A+ · Superior

Athene

Fixed indexed annuities · Multi-year guaranteed annuities (MYGA)

A.M. Best A++ · Superior

MassMutual

Fixed and multi-year guaranteed annuities · Income annuities

A.M. Best A · Excellent

Lincoln Financial

Variable annuities · Registered index-linked annuities

A.M. Best A · Excellent

F&G Annuities

Fixed indexed annuities · Multi-year guaranteed annuities

A.M. Best A+ · Superior

Midland National

Fixed indexed annuities · Multi-year guaranteed annuities

A.M. Best A+ · Superior

North American Company

Fixed indexed annuities · Multi-year guaranteed annuities

A.M. Best A+ · Superior

Prudential

Registered index-linked annuities · Variable annuities

A.M. Best A+ · Superior

Minnesota Life (Securian)

Fixed indexed annuities · Variable annuities

A.M. Best A- · Excellent

Delaware Life

Fixed indexed annuities · Multi-year guaranteed annuities

A.M. Best B++ · Good

EquiTrust Life

Fixed indexed annuities · Multi-year guaranteed annuities

A.M. Best B++ · Good

Heartland National Life

Fixed indexed annuities · Multi-year guaranteed annuities

A.M. Best B++ · Good

American Life

Multi-year guaranteed annuities · Fixed indexed annuities

A.M. Best A- · Excellent

AmFirst (Axonic)

Multi-year guaranteed annuities · Fixed annuities

Questions owners ask

What do annuity carrier ratings measure?: An A.M. Best financial strength rating is an opinion about an insurance company's ability to meet its ongoing contract obligations. It is not a rating of a specific annuity, its fees, or its crediting terms.
Is an A- rated annuity carrier weak?: No. A.M. Best groups A and A- together as Excellent, inside the secure range. The category matters far more than the plus or minus modifier attached to it.
Where do these ratings come from?: They are the A.M. Best financial strength ratings recorded in the AnnuityScore carrier network at the date shown on each profile. Ratings change over time and A.M. Best publishes the current rating.
Does a strong rating mean a good contract?: No. Carrier strength and contract quality are separate questions. A highly rated company can issue a contract with a long surrender schedule and modest crediting terms.

Confidential

Carrier strength is one pillar of five

The Annuity Position Score™ reads your own contract against Cost, Surrender, Riders, Rate and Fit — the issuer's rating is only where it starts.

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Educational content only. AnnuityScore is not affiliated with, endorsed by, or acting on behalf of any carrier named on this page. Company and product names are the trademarks of their respective owners. A.M. Best ratings are as recorded in the AnnuityScore carrier network and are subject to change; A.M. Best is the authoritative source. Nothing here is a recommendation or a solicitation.