Moody's rates Torchmark's senior notes Baa1; assigns shelf ratings; outlook stable
Moody's Investors Service (Moody's) has assigned a Baa1 rating to $550 million of 10-year senior unsecured notes being issued by Torchmark Corporation (Torchmark; NYSE: TMK). The notes are being issued off a multi-seniority shelf registration, to which Moody's has assigned provisional ratings (s...Torchmark is an insurance holding company. Through its wholly-owned subsidiaries, the company provides a variety of life and supplemental health insurance products and annuities to customers. The company's segments are: life insurance, which writes a variety of nonparticipating ordinary life insurance products including whole-life insurance, term life insurance, and other life insurance; health insurance, which provides Medicare Supplement and limited-benefit supplemental health insurance products that include primarily critical illness and accident plans; annuity, which includes single-premium and flexible-premium deferred annuities; and investment, which consists primarily of investment-grade securities.
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