A.M. Best confirms ratings for credit union insurance giant.
Latest in ongoing court fight over $72 million in failed securities rated by S&P and sold by RBS Securities to CUNA Mutual.
Insurer seeking to recover $72 million from RBS Securities.
Ratings agency cites company’s capitalization, diversification in issuing stable outlooks
While financial ratings agency A.M. Best has affirmed CMFG Life Insurance Co.’s financial strength as excellent, the firm still lists the company’s outlook as stable.
CUNA Mutual Insurance Society, CUMIS Insurance Society and MEMBERS Life Insurance Co., have filed suit against RBS Securities Inc. claiming that the firm made false representations of its offering documents at the time that more than a dozen residential mortgage-backed securities were purchased by the three plaintiffs.
Company accuses RBS Securities of "inducing" it to buy certificates through false representations.