Development
FIRST PENN-PACIFIC LIFE INS CO
Major Rating Factors:
Fair overall results on stability tests (3.0 on a scale of 0 to 10) including fair financial strength of affiliated Lincoln National Corp, weak results on operational trends and negative cash flow from operations for 2023. Good quality investment portfolio (6.6) despite mixed results such as: minimal exposure to mortgages and large holdings of BBB rated bonds but small junk bond holdings. Weak profitability (2.0) with investment income below regulatory standards in relation to interest assumptions of reserves.
Other Rating Factors:
Weak Liquidity (2.4). Strong capitalization (7.7) based on excellent risk adjusted capital (severe loss scenario).
Stability Factors:
A - Financial problems or weaknesses of a parent or affiliate company.
F - Negative cash flow.
L - Past results on our liquidity tests.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Group life (1.0%), ind annuities (0.7%), other (98.3%)
Licensed in:
All states except NY, PR
Investments
Invested Assets
Cash
CMO & Structured Securities
Other Investment Grade Bonds
Non-Investment Grade Bonds
Common & Preferred Stock
Mortgages in Good Standing
Non-Performing Mortgages
Real Estate
Other Investments
Investments in Affiliates
Corporate Info
Group Affiliation
Lincoln National Corp
Investment Rating
Company Address
1300 South Clinton Street
Fort Wayne, IN 46802
Fort Wayne, IN 46802
Phone Number
(800) 444-2363
NAIC Number
67652
Website
Largest Affiliates