Mar 2, 2023
Corporate
AM Best Comments on Credit Ratings of Certain Group 1001 Insurance Holdings, LLC Subsidiaries Following Ransomware Attack
AM Best has commented that the Credit Ratings (ratings) of certain Group 1001 Insurance Holdings, LLC’s rated subsidiaries remain unchanged following the parent company’s disclosure that it sustained a cybersecurity attack that caused a network disruption and impacted certain systems.
According to the company, the following subsidiaries experienced system interruptions but are now back to full functionality: Delaware Life Insurance Company, Delaware Life Insurance Company of New York, Clear Spring Life and Annuity Company and Clear Spring Property and Casualty Company.
AM Best was notified of a cyber security ransomware attack that occurred against Group 1001 beginning in early February. Group 1001 has engaged with law enforcement and regulatory agencies following the attack. Group 1001 did not pay the ransomware and believes all systems have been cleaned and validated. Currently, Group 1001 believes the impact to business interruption was minimal and currently day-to-day operations have resumed as normal.
AM Best currently believes that the disruption caused by the ransomware attack has not reached a level that is material to the credit profile of the enterprise. AM Best recognizes that the situation remains highly fluid and will continue to monitor developments.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.
Mar 1, 2023
Corporate
Group 1001 Resumes Full Operations After Ransomware Attack
Group 1001, Inc. would like to provide an update to our stakeholders concerning recent system interruptions experienced by certain Group 1001 Insurance member companies, including Delaware Life Insurance Company, Delaware Life Insurance Company of New York, Clear Spring Life and Annuity Company, Clear Spring Property a...
Nov 4, 2022
Corporate
Barron’s Honors Delaware Life for Top-Ranked Annuities for Third Consecutive Year
Delaware Life, a Group 1001 company, has been recognized in a recent Barron’s article, “The Best Annuities for Income and Growth.” Noting that sales of these investment products have surged this year, the article highlights Delaware Life’s Growth Pathway®Fixed Index Annuity and Apex MYGA®Fixed Annuity as standouts in t...
Sep 21, 2022
Corporate
Delaware Life Supports Renewable Energy Projects by Providing $400 Million Credit Facility to Fundamental Renewables
Delaware Life, acting as arranger and a lead lender, recently provided a $400 million credit facility to Fundamental Renewables, an established provider of financing for solar and other renewable energy projects. This landmark transaction is an example of an important element of Delaware Life’s investment strategy – to...
Aug 22, 2022
Corporate
Mike Nichols Joins Group 1001 as Chief of Sponsorship Strategy and Activations
INDIANAPOLIS – AUG. 22, 2022 — Group 1001 today announced the appointment of Mike Nichols as Chief of Sponsorship Strategy and Activations. Nichols has more than 25 years of executive experience in sports leadership and sponsorships, including more than 16 years at the LPGA (Ladies Professional Golf Association). He wi...
Aug 15, 2022
Corporate
Introducing Clear Spring Life and Annuity Company
We are pleased to announce Guggenheim Life and Annuity Company, who recently received an upgrade from A.M. Best to a Financial Strength Rating of A- (Excellent), has a new name: Clear Spring Life and Annuity Company (“Clear Spring Life”). In addition, GL Marketing, LLC is now Clear Spring Life Marketing, LLC (“CSL Mark...
Aug 2, 2022
Corporate
Fitch Publishes 'A-' IFS Rating for Delaware Life Insurance Co.
Fitch Ratings, a global credit rating agency, has published an Insurer Financial Strength (IFS) rating of “A-“ for Delaware Life Insurance Company. Read more about this rating HERE.
“We are pleased with the decision by Fitch Ratings and believe it is reflective of Delaware Life’s dedication to the business and our stron...
Mar 29, 2022
Corporate
Group 1001 Becomes Majority Stakeholder in Women’s Sports-Focused Enterprise Parity
NEW YORK (Date TBD) – In a bold step to create lasting and meaningful change in women’s sports, Group 1001 will become a majority stakeholder in Parity, a startup created for both elite women athletes and their fans to combat gender pay inequities in professional sports.
As part of the acquisition, Parity will have sub...
