A.M. Best changes outlook on Centurion
A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating of A (Excellent) and issuer credit rating of “a” of Centurion Life Insurance Co. of Des Moines, which is owned by Wells Fargo Financial Inc. The revised outlook reflects Centurion Life’s narrowed business profile related to its discontinuation of annuity production, as well as the run-off of its credit life and disability lines of business, which is attributable to the discontinuation of consumer lending by Wells Fargo Financial stores, A.M. Best said in a news release.