Fidelity Security Life Insurance Company (FSL) has been named to the list of Top 50 life-health insurance companies in the U.S. for 2024 by virtue of its “outstanding financial results in the areas of safety, consistency, and performance over a five-year period.”
The list, known as the Ward’s 50, was released by Aon plc, a leading global professional services firm that operates the Ward’s 50 benchmark group. The group analyzes more than 700 U.S.-based life-health insurers.
In order to make the list, each company must pass minimum thresholds for safety and consistency as well as excel in financial performance measurements over five years, 2019 through 2023. FSL was named to the list in 2024 based on that five-year performance.
“On several financial performance measures, FSL not only surpassed the industry average but also the average of the other Ward’s 50 companies,” said FSL President Bryce Jones. “By making this list on a consistent basis, it shows how all of our associates perform at a high level every day to keep FSL competitive and to create value for our policyholders and partners.
“This honor focuses on FSL, but we know the credit is shared with our business partners who collaborate with us to develop successful programs. Our producers allow us to reach our maximum potential through their professionalism in representing FSL products in the marketplace. In addition, our reinsurance partners help provide the solid financial foundation critical to our stability and ongoing success.”
The Ward’s 50 has been produced since 1991 and is widely recognized for its prestige in the insurance industry. This is the 12th time in the last 16 years that FSL has been included in the list.
“Changes in inflation, weather conditions and the reinsurance market have affected the financial results for many insurance companies,” said Jeff Reider, partner and head of Ward benchmarking at Aon. “In selecting the Ward’s 50, we identified companies that pass financial stability requirements and measure their ability to grow while maintaining strong capital positions and underwriting results.”
In the safety and consistency portion of the Ward’s benchmark testing, FSL excelled in the following criteria annually from 2019 to 2023:
- Surplus of at least $50 million. FSL’s capital & surplus was $348 million in 2023.
- Adjusted net income in at least four of five years. FSL had net income exceeding $20 million each of the last five years.
- Compound annual growth in premiums between -10% and +40%. FSL’s compound growth in premium was +4%.
The table below illustrates FSL's results and performance measures compared to Ward's 50 members and the life-health insurance industry at large.