AM Best Removes From Under Review With Negative Implications and Affirms Credit Ratings of Blue Cross Life Insurance Company of Canada
AM Best has removed the under review with negative implications and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of
The ratings reflect BCLIC’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
The removal of the under review with negative implications status reflects BCLIC’s risk-adjusted capitalization, which has been impacted from write-downs on its private loan holdings, related to one of its asset manager, and a higher risk charge amount to support larger blocks of business from higher sales. The transfer of a significant block of business from
BCLIC was placed under review with negative implications on
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
Copyright © 2021 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
src="https://cts.businesswire.com/ct/CT?id=bwnewssty=20211117006241r1sid=acqr8distro=nxlang=en" style="width:0;height:0" />
View source version on businesswire.com: https://www.businesswire.com/news/home/20211117006241/en/
Financial Analyst
+1 908 439 2200, ext. 5072
[email protected]
Manager, Public Relations
+1 908 439 2200, ext. 5159
[email protected]
Director
+1 908 439 2200, ext. 5892
[email protected]
Director, Communications
+1 908 439 2200, ext. 5644
[email protected]
Source: AM Best
Craig DeSanto Named CEO-elect Of New York Life
Beazley hires medical professional liability expert Joseph Washington
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News