AM Best Places Credit Ratings of Pillar Life Insurance Company Under Review With Developing Implications

OLDWICK, N.J.--(BUSINESS WIRE)--
AM Best has placed under review with developing implications the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Pillar Life Insurance Company (Pillar) (Harrisburg, PA).

The Credit Ratings (ratings) of Pillar have been placed under review with developing implications following a change in its strategic vision. The new controlling owner is evaluating a different business plan. The new business plan will consider several options including a potential sale or merger. AM Best will continue to monitor the ratings as decisions regarding the future of Pillar are made.

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 © 2024 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

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Michael Lynch
Financial Analyst

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Jacqalene Lentz

Director

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Christopher Sharkey
Associate Director, Public Relations

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Al Slavin
Senior Public Relations Specialist

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Source: AM Best