FSL Insights


Fidelity Security Life Insurance Company (FSL) has been named to the list of Top 50 life-health insurance companies in the U.S. for 2023 by virtue of its “outstanding financial results in the areas of safety, consistency, and performance over a five-year period.”

The list, known as the Ward’s 50, was released by Aon plc, a leading global professional services firm that operates the Ward’s 50 benchmark group. The group analyzes more than 700 U.S.-based life-health insurers.

In order to make the list, each company must pass minimum thresholds for safety and consistency as well as excel in financial performance measurements over five years, 2017 to 2021. FSL was named to the list in 2022 based on that five-year performance.

This year, the measurement period is 2018 to 2022, for recognition in 2023. 

"On several financial performance measures, FSL not only surpassed the industry average but also the average of the other Ward's 50 companies," said FSL President Bryce Jones. "By making this list on a consistent basis, it shows how all of our associates perform at a high level every day to keep FSL competitive and to create value for our policyholders and partners." 

"This honor focuses on FSL, but we know the credit is shared with our business partners who collaborate with us to develop successful programs. Our producers allow us to reach our maximum potential through their professionalism in representing FSL products in the marketplace. In addition, our reinsurance partners help provide the solid financial foundation critical to our stability and ongoing success."

The Ward’s 50 has been produced since 1991 and is widely recognized for its prestige in the insurance industry. This is the 11th time in the last 15 years that FSL has been included in the list.

“In selecting the Ward’s 50, we identified companies that pass financial stability requirements and measure their ability to grow while maintaining strong capital positions and underwriting results,” said Jeff Rieder, partner and head of Ward benchmarking at Aon.

In the safety and consistency portion of the Ward’s benchmark testing, FSL excelled in the following criteria annually from 2018 to 2022:

  • Surplus of at least $50 million. FSL’s capital & surplus was $327 million in 2022.
  • Adjusted net income in at least four of five years. FSL had net income exceeding $20 million each of the last five years.
  • Risk-based capital ratio of at least 150%. FSL reported a risk-based capital ratio of 1,922% in 2022.

The table below illustrates FSL's results and performance measures compared to Ward's 50 members and the life-health insurance industry at large.

Category FSL Ward's 50 Industry
Return on Average Assets 2.8% 1.4% 0.9%
Risk-Based Capital Ratio 1,526% 883% 870%
Net Gain from Operations 26.5% 10.2% 9.3%
Growth in Surplus 54.6% 33.5% 30.6%