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Article: TIAA Financial Strength Is Rated AAA.(Fitch Ratings affirms AAA insurer financial strength rating of Teachers Insurance and Annuity Association and wholly owned subsidiary, TIAA-CREF Life Insurance Co)(Brief Article)
- Article from:
- American Banker
- Article date:
- August 29, 2003
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Fitch Ratings has affirmed the AAA insurer financial strength rating of Teachers Insurance and Annuity Association, or TIAA, and its wholly owned subsidiary, TIAA-CREF Life Insurance Co., or TIAA-CREF Life.
The financial strength rating for New York-based TIAA was based on its dominant market share in the core business of qualified individual retirement annuities for higher education professionals, as well as on the organization's continued solid operating performance, driven by its large size and low cost structure. Also supporting the rating, Fitch said on Wednesday, is the company's strong balance sheet and capital position.
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