AM Best Assigns Credit Ratings to Advantage Life Puerto Rico A.I. and Advantage Life Assurance I.I.

OLDWICK, N.J.--(BUSINESS WIRE)--
AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of “bbb+” (Good) to Advantage Life Puerto Rico A.I. (ALPR) and Advantage Life Assurance I.I. (ALAI). Both companies are domiciled in San Juan, PR. The outlook assigned to these Credit Ratings (ratings) is stable.

The ratings reflect ALPR’s balance sheet strength, which AM Best assesses as very strong, as well as its marginal operating performance, neutral business profile and appropriate enterprise risk management. The ratings also reflect ALAI’s balance sheet strength, which AM Best assesses as adequate, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

ALPR and ALAI operate as sister companies and wholly owned subsidiaries of Advantage Insurance Inc. The entities underwrite specialty insurance contracts, primarily private placement variable universal life and private placement variable annuity products, and provide other related insurance services to business owners and high net worth individuals for their risk management and financial planning needs. The company’s investment and liability profiles, which feature an entirely separate account product platform in which policyholders bear investment risks, contribute to their strength. Furthermore, both entities utilize reinsurance partners to cede the majority of their mortality risks. AM Best notes that the companies do business with wealthy domestic and international clientele, remaining in compliance with rapidly evolving regulations.

This press release relates to Credit Ratings that have been published on AM 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 AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2022 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

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Kevin Varvaro
Financial Analyst

+1 908 439 2200, ext. 5487

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Christopher Sharkey
Manager, Public Relations

+1 908 439 2200, ext. 5159

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Edward Kohlberg
Director

+1 908 439 2200, ext. 5664

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Al Slavin
Communications Specialist

+1 908 439 2200, ext. 5098

[email protected]

Source: AM Best