CHICAGO, August 3, 2021 (Newswire.com) - BCS Financial (BCS) announced today that AM Best has upgraded their Financial Strength Rating and Long-Term Issuer Credit Rating to A (Excellent) for the company and its carrier subsidiaries. The upgraded ratings reflect BCS's financial strength, operational performance, business profile, and risk management practices.
"We are incredibly proud that AM Best has acknowledged BCS's strong financial and business profile with an upgrade," says Susan Pickar, Chief Financial Officer of BCS Financial Corporation. "During a time when financial stability and strength is even more critical, these ratings demonstrate BCS's long-term sustainability and the capital strength that allows us to deliver for our customers, our stakeholders, and our employees."
According to AM Best, the ratings upgrade is a result of BCS's balance sheet strength, which AM Best assessed as "strongest," as well as BCS's sustained growth and strengthening of its business profile, expansion of product distribution capabilities, and commitment to innovation.
Among the contributing factors is a new, cutting-edge reinsurance solution to protect the financial risks associated with the emerging gene therapy market. Additionally, BCS, owned by 35 Blue Cross Blue Shield Plans and the Blue Cross Blue Shield Association, has developed new stop loss solutions for large/national accounts; launched best-in-class accident, critical illness, and hospital indemnity policies; and entered into a number of new partnerships and strategic investments.
"Innovation remains at the forefront of our business, and this rating reinforces that we have the right strategies and solutions to drive our business forward," said Peter Costello, President & Chief Executive Officer, BCS Financial. "We embrace the future with confidence, and we continue to be laser-focused on delivering meaningful and measurable value to our customers and partners."
The full release from AM Best can be found at: http://news.ambest.com/newscontent.aspx?altsrc=149&refnum=235027.
About BCS Financial Corporation
BCS Financial Corporation has more than 70 years of experience delivering a wide range of insurance and financial solutions for Blue Cross and Blue Shield organizations nationwide and globally. Through its subsidiaries, BCS Insurance Company, 4 Ever Life Insurance Company, and 4 Ever Life International, BCS is licensed in all 50 states and is rated A (Excellent) by AM Best. BCS Financial is headquartered in Oakbrook Terrace, Illinois. Learn more at bcsf.com.
Source: BCS Financial