One Year after Merger, Benefits Keep Coming!
What positive impact has our PALIG merger had on you?
On November 2, 2015, Mutual Trust Holding Company and Pan-American Life Holding Company merged. As a result, we became Mutual Trust Life Insurance Company, A Pan-American Life Insurance Group (PALIG) Stock Company. November 2016 marks the first anniversary of the merger. How has it positively affected you?
One Year Later
Our merger with PALIG produced several immediate benefits and many potential ones. Here’s an overview of landmark events at Mutual Trust in the last year and their positive impact on you.
Increased Financial Strength (in an industry where company size and financial strength matters)
As a result of the merger, the combined company has $5.5 billion dollars in assets and $850 million in capital. One of the immediate benefits of the merger was the positive reaction by the insurance rating agencies.
- On November 3, 2015, Fitch Ratings, a leading provider of credit ratings for the financial services industry, assigned Mutual Trust a rating of "A" Insurer Financial Strength. This was significant because Mutual Trust previously did not have a rating from Fitch. Fitch specifically cited the completion of the merger as the driver of the rating action.
- On November 4, 2015, A.M. Best, the world's oldest and most authoritative insurance and rating source, upgraded Mutual Trust’s outlook to "Positive" from "Stable."
- On September 29, 2016, A.M. Best upgraded Mutual Trust’s financial strength rating to "A" from "A-"!
According to Steve Batza, FSA, MAAA, CLU, ChFC, President and CEO of Mutual Trust, A.M. Best's rating upgrade "less than one year after the merger, is a strong indication of the significance of being part of a larger organization that has a diversified product portfolio and a commitment to exceptional financial strength."
José S. Suquet, PALIG's Chairman of the Board, President and CEO added, "As we approach the first anniversary of the merger, these ratings are further confirmation that as one company, we are stronger than ever."
The Benefit to You?
First and foremost, our financial strength guarantees that no matter what happens we are always prepared to meet the financial commitments that we made to you, our policyowners.
In addition, on November 17, 2015, Mutual Trust announced that we were increasing our dividend payout for 2016. The decision was due to our excellent financial results through the first three quarters of 2015, improved mortality experience on our currently issued products, and the additional capital flexibility resulting from our merger with PALIG.
So, as you can see, the merger has already had a positive impact on you. Continue to check our website and upcoming issues of this newsletter for more advantages resulting from the merger. As José Suquet mentioned after A.M. Best upgraded our rating, "I am confident that the road ahead will see us attain even greater heights."
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