Best’s News & Research Service - February 28, 2020 02:29 PM (EST)
AM Best Assigns Credit Ratings to London Life and Casualty Reinsurance Corporation
- February 28, 2020 02:29 PM (EST)
Oldwick //BestWire// - AM Best has assigned a Financial Strength Rating (FSR) of A+ (Superior) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “aa” to London Life and Casualty Reinsurance Corporation (LLCRC) (Barbados). LLCRC is rated as part of the group Credit Rating (rating) for The Canada Life Assurance Company (Canada Life) and has thus been assigned the same ratings. The outlook assigned to LLCRC’s ratings is stable.
The ratings of LLCRC (through the company’s affiliation with Canada Life) reflect a balance sheet strength that AM Best categorizes as strongest, as well as its strong operating performance, very favorable business profile and appropriate enterprise risk management.
LLCRC was initially incorporated under the laws of Barbados in 1989 and was further reorganized under its Certificate of Amendment in 2004. LLCRC is a member of the Great-West Lifeco, Inc. group of companies; its direct parent is Canada Life, a leading Canadian life insurer. LLCRC’s ratings primarily reflect the support from Canada Life and LLCRC’s strategic role as Canada Life’s offshore underwriting and marketing arm for life, accident and health, annuity and property and casualty reinsurance business through its subsidiaries with clients based primarily in the United States, United Kingdom and continental Europe.
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 media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
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 New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.