Favorable operating performance relative to peers Very strong capital and earnings Adequate financial flexibility Sensitivity to interest rates S&P Global Ratings' ratings on Sammons Financial Group reflect its strong business risk profile (BRP) and a very strong financial risk profile (FRP). The BRP reflects low industry and country risk and favorable operating performance relative to peers. The very strong FRP stems from very strong capital and earnings, and strong financial flexibility. Under our criteria, a strong BRP and very strong FRP assessment leads to a dual anchor of a+/a. We chose the former due to the relative strength and consistency of its operating performance versus peers. The stable outlook reflects our expectation that the group will sustain its strong BRP
