Tower remains at A-

AM Best has renewed the financial strength rating of A- (Excellent) and issuer credit ratings (ICR) of "a-" of Tower's three subsidiary companies: general insurer Tower Insurance; Tower Health & Life, and Tower Life.

It also has affirmed the ICR of "bbb-" of the parent company Tower. The outlook for all ratings is stable.

Tower Health and Life's (THL) rating reflects its adequate risk-adjusted capitalisation and favorable in-force business portfolio, the agency says.

Although THL holds a large percentage of its assets in illiquid form, its risk-adjusted capitalisation remains adequate for its current ratings.