RENO, Nev., Nov. 29, 2006 (PRIME NEWSWIRE) -- AMERCO (Nasdaq:UHAL) announced today that its subsidiary, Oxford Life Insurance Company (Oxford Life) has been upgraded by A.M. Best, the world's oldest and most authoritative insurance rating and information source, to B++ (Very Good) from B+ (Very Good). The rating increase also applies to Oxford Life subsidiary company Christian Fidelity Life Insurance Company (Texas). The rating outlook is stable.
"I am pleased that A.M. Best has recognized the success that Oxford Life has had in focusing its business strategy on the senior market," stated Mark A. Haydukovich, president of Oxford Life. "We are a company dedicated to meeting the needs of our customers. This focus includes building a solid financial foundation and designing policy features to address the needs of the senior market. We believe that the outcome of this focus will be continued sales of our products and this rating upgrade will serve to enhance our ability to sell products in our chosen market."
Founded in 1965, Oxford Life Insurance Company specializes in providing life insurance and fixed annuities sold through independent marketing organizations and general agents. Christian Fidelity Life Insurance Company, a subsidiary of Oxford Life, and Dallas General Life Insurance Company, a subsidiary of Christian Fidelity, provide high-quality Medicare-supplement and final-expense life insurance products. Also a subsidiary of Oxford Life, North American Insurance Company administers credit life and disability insurance. A member of the Insurance Marketplace Standards Association (IMSA), the national organization dedicated to promoting high ethical standards in the life insurance marketplace, Oxford Life provides excellent customer service while exemplifying the highest standards of ethics and professional integrity.