A.M. Best Affirms Credit Ratings of Fidelity Life Assurance Company Limited
The ratings reflect Fidelity Life’s balance sheet strength, which
Fidelity Life’s balance sheet strength is underpinned by risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), which is maintained at the strongest level. Its regulatory solvency margin also has improved significantly following the recent capital injection by a new investor,
Fidelity Life has a track record of positive operating earnings. Nonetheless, recent profitability has been under pressure, owing largely to the impairment of intangible assets and unfavorable discount rate movements. Prospectively,
Fidelity Life is the third-largest life insurer in
Fidelity Life is well-positioned for its current rating level. Negative rating actions may occur if there is significant deterioration in operating performance as a result of factors such as higher-than-expected lapse rates. Additionally, downward rating pressure could occur if the company experiences difficulties in reaching its targeted surplus.
Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.
This press release relates to Credit Ratings that have been published on A.M. 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 A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and
Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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