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AM Best finds more rating upgrades than downgrades for US life insurers
In the first half of 2026, upgrades outnumbered downgrades by 2 to 1, and AM Best cited continued support from annuity sales and strong capital positions.
AM Best reported a stronger overall balance of credit rating actions for US life and health insurers in the first half of 2026, with upgrades outnumbering downgrades by two to one versus the same period a year earlier, according to its Best’s Special Report. The rating agency said the US life and annuity sector has continued to benefit from recent growth, supported in part by sustained annuity sales. AM Best also noted that life insurers generally maintained strong capital positions, with surplus levels rising alongside favorable risk based capitalisation. AM Best found that most upgrades during the period went to life insurers, while companies focused on annuities accounted for the majority of downgrades. In its analysis, it said life and annuity insurers have been able to offset some recent increases in policy surrender activity through robust asset liability matching and surrender charge protections.