Unity Financial Life Receives Positive Outlook Upgrade from AM Best

Cincinnati, OH. – May 9, 2024 – Unity Financial Life Insurance Company (“UFL”), a leading provider of Medicaid-compliant annuities and insurance products, recently received an upgrade from AM Best on the outlook for its long-term issuer credit rating, to positive from stable.

Company President & CEO Jay Hardy said, “It is nice to see the premier rating agency of insurance companies confirm that our company’s financial strength and credit rating is stronger than ever. Unity has recorded 23 years of continuous asset growth and has a long history of growing Capital and Surplus. Our company adds tens of thousands of customers every year, and we are dedicated to helping those people qualify for Medicaid.”

AM Best released a statement saying, “AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICR of ‘bbb’ (Good) of Unity Financial Life Insurance Company (Unity) (Cincinnati, OH).

“The Credit Ratings (ratings) reflect Unity’s balance sheet strength, which AM Best assesses as adequate, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. The positive outlook of the Long-Term ICR is a result of improvements in the company’s balance sheet strength.

“Due to a combination of the growth in assets combined with improved net yield, Unity’s investment income improved significantly. The company’s improved investment income largely drove its record net income in 2023. Unity’s record net income in 2023 surpassed the previous record set in 2022. The company’s risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), also improved and is projected to be at the very strong level as of year-end 2023.”

Unity Financial Life Insurance Company is the national leader in Medicaid-compliant insurance and annuity products. The company’s comprehensive suite of preneed, funeral trust and Medicaid compliant annuities are designed to help Medicaid applicants capture their maximum legal benefit when enrolling in Medicaid. UFL is domiciled in Ohio and is licensed to do business in 48 states plus the District of Columbia. For more information, visit www.uflife.com or call (877) 523.3231.

This rating from AM Best is effective May 2024. For the latest rating information, please visit www.ambest.com.