LSV named one of nation’s top Life-Health insurers
Subsidiary USAble Life recognized for financial stability
LITTLE ROCK (Sept. 15, 2011) –Life and Specialty Ventures, LLC, has been cited by Best’s Review as one of the nation’s top 25 Life-Health insurers by group life issued. LSV was the only Arkansas-based insurer to make the list, which ranks the top 25 life and health insurers in the United States. Best’s Review is a national leader in covering the insurance industry.
In addition, USAble Life, a subsidiary owned by LSV, has been given an “A” Excellent rating by A.M. Best Co. for the sixth consecutive year. The rating reflects USAble’s “positive business growth trend, diverse product design, improved capitalization and the support of its majority owners,” A.M. Best said in its notification letter.
“These achievements are a testament to the devotion our employees have to making a meaningful difference in the lives of our customers,” said Jason Mann, president and CEO of LSV and USAble Life. “We are building tremendous momentum in the marketplace and our team remains dedicated to providing products and services that complement our Blue Cross and Blue Shield partners while producing solid financial results for our owners.”
In the September 2011 issue, Best’s Review ranked LSV in the top 25 of Life-Health insurers in the nation by group life business issued. LSV was ranked 19th, an improvement from the ranking of 24th a year ago.
A.M. Best also praised USAble for:
· Significant business expansion over the past five years, with average annual net premium written growth rate of about 30 percent
· Successful collaboration with Blue Cross and Blue Shield plans
· High degree of flexibility in its administrative platforms
· Multiple distribution channels that are contributing to growth
· Expanding and adjusting its product offerings and product mix to meet market demands and ensure future growth opportunities
About LSV
Life and Specialty Ventures, LLC, is a holding company based in Little Rock, Arkansas. The company owns and operates USAble Life and Florida Combined Life, and has more than 500 employees nationwide. LSV offers groups and individuals the opportunity to purchase ancillary insurance products including dental, life, disability and worksite. The company generates in excess of $461 million in annual premium and has gross revenues of more than $478 million. Total insurance in force is more than $43 billion. Ownership of LSV is shared by six Blue Cross and Blue Shield Plans: Arkansas Blue Cross and Blue Shield, Blue Cross and Blue Shield of Florida, Hawaii Medical Service Association, Blue Cross and Blue Shield of Tennessee, Blue Cross and Blue Shield of Massachusetts, and Highmark Blue Cross Blue Shield.