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S&P maintains Securian Financial's AA- rating and stable outlook

Excellent capitalization, strong business profile and diversified product portfolio cited

Major rating agencies continue to monitor and evaluate insurance companies on the impact of the COVID-19 pandemic and the resulting economic environment.

On Friday, May 15, 2020, S&P published a Research Update on Securian Financial, maintaining our insurance financial strength rating of AA- (Very Strong) and our Stable outlook.

The AA- (Very Strong) rating is S&P’s fourth highest of 21 ratings. The rating and outlook apply to Securian Financial affiliates Minnesota Life Insurance Company and Securian Life Insurance Company.

In the Research Update, S&P cites our “excellent capital position,” “well-diversified and strong GAAP earnings profile,” “solid market position supported by strong client retention and multichannel distribution capabilities,” our “well-diversified investment portfolio,” and our “tight enterprise risk management controls” as the major reasons for our ratings and outlook.

Our strong industry ratings, especially at this time, reflect how our historical approach to smart growth and strong enterprise risk management keeps Securian Financial well-positioned to manage through uncertainty.

For more information about the rating agencies and to see where our ratings rank compared to other ratings, visit our ratings information. Ratings for financial strength and claims-paying ability are important; however, they are not reflective of the performance of any registered securities or variable subaccounts.

DOFU 5-2020