AM Best on December 12 2025 upgraded the financial strength rating of its core Blue Cross Blue Shield subsidiaries to A (Excellent) and the long‑term issuer credit rating to a+ (Excellent), reflecting the insurers’ very strong balance sheets and robust capital positions.
The agency also raised the financial strength rating of Wellpoint Life and Health Insurance Company and Wellpoint West Virginia, Inc. to A (Excellent) and the long‑term issuer credit rating to a+ (Excellent), citing their strategic importance as medical and stop‑loss entities and their solid capital bases.
AM Best affirmed a bbb+ (Good) long‑term issuer credit rating for Elevance Health itself, confirming the company’s ability to meet its financial obligations and supporting its future growth initiatives.
The upgrades signal confidence in Elevance’s financial strength and risk management, which should lower borrowing costs and provide a stronger foundation for strategic investments.
Elevance reported operating revenue of $50.1 billion in Q3 2025, a 12% year‑over‑year increase, and an adjusted diluted earnings per share of $6.03, underscoring the financial performance that underpinned the rating actions.
CEO Gail Boudreaux highlighted disciplined execution and strategic investments in technology and workforce, reinforcing confidence in the company’s ability to navigate cost pressures and market dynamics.
The rating changes come after S&P Global Ratings lowered Elevance’s long‑term issuer rating to A‑ in October 2025, illustrating the differing perspectives of rating agencies on the insurer’s capital adequacy and operating environment.
Overall, the AM Best upgrades confirm that Elevance’s core operations are well positioned to meet obligations, while the parent company’s Good rating affirms its solid financial footing.
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