AM Best Places Credit Ratings of Sunset Life Insurance Company of America 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 Sunset Life Insurance Company of America (Kansas City, MO).

Sunset Life Insurance Company of America’s ratings were placed under review with developing implications following the announcement that Cordillera Holdings has acquired the company. Cordillera Holdings, founded in 2020, is a holding company focused on investing in the insurance and reinsurance sectors. Under the leadership of Nathan Gemmiti, Cordillera will use Sunset Life Insurance Company of America to sell retirement-oriented fixed annuities.

The developing implications reflect that AM Best is awaiting information concerning the financial position of Cordillera Holdings and the business plan and projections of Sunset Life Insurance Company of America under its new ownership.

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 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 © 2021 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

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Matthew Dachowski
Financial Analyst

+1 908 439 2200, ext. 5357

matthew.dachowski@ambest.com

Christopher Sharkey
Manager, Public Relations

+1 908 439 2200, ext. 5159

christopher.sharkey@ambest.com

Michael Porcelli
Senior Director

+1 908 439 2200, ext. 5548

michael.porcelli@ambest.com

Jim Peavy
Director, Communications

+1 908 439 2200, ext. 5644

james.peavy@ambest.com

Source: AM Best