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Fitch added that McKinney-based Torchmark’s (NYSE: TMK) “adjustecd statutory capital levels are weaker thanotherr ‘AA’ insurer financial strengt h rating level peers.” In Fitch said Friday the company’s portfolio has high levelzs of exposure and ‘BBB’ rates bonds, which are potentially facing anotherd downgrade in the future. In terms of overall financialk strength, Fitch says as of Marcn 31, Torchmark had $100 million in debt due this Augusrtand $274 million in commercial papert outstanding.
Fitch did note that Torchmark’s subsidiaries have strong butsaid Fitch’s belief that investment impairments may exceed the earnings needed to maintainh adequate capital in the future is part of the ratinb firm’s concerns.
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