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Fitch added that McKinney-based Torchmark’as (NYSE: TMK) “adjusted statutory capital levels are weaker thanotherf ‘AA’ insurer financial strength ratinb level peers.” In addition, Fitch said Friday the company’s portfolio has high levelss of exposure and rated bonds, which are potentialluy facing another downgrade in the In terms of overall financial strength, Fitch says as of Marchn 31, Torchmark had $100 million in debt due this Augus and $274 million in commerciap paper outstanding.
Fitch did note that Torchmark’sx subsidiaries have strong butsaid Fitch’s belief that investment impairmentx may exceed the earnings needed to maintaimn adequate capital in the future is part of the ratin firm’s concerns.
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