CDLIC ceased writing insurance policies in late 2007 and is nearing the completion of the run-off process. Since it is approaching the end of its run-off process, CDLIC, after discussions with
CDLIC has a unique organizational structure in which it is owned by more than 200 automobile dealerships in a five-state region. The company marketed credit life and credit accident and sickness business through automobile dealerships, which generally are stockholders of CDLIC.
The rating affirmations of CDLIC reflect the continued run-off of the business, strong risk-adjusted capitalization, offset by modest and fluctuating statutory operating earnings. The company’s capital and surplus has been declining and is currently
The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.
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Senior Financial Analyst
Manager, Public Relations
Assistant Vice President
Assistant Vice President, Public Relations