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AM Best Assigns Credit Ratings to London Life and General Reinsurance Designated Activity Company

January 10, 2019

OLDWICK, N.J.--(BUSINESS WIRE)--Jan 10, 2019--AM Best has assigned a Financial Strength Rating of A+ (Superior) and a Long-Term Issuer Credit Rating of “aa” to London Life and General Reinsurance Designated Activity Company (LLGR) (Dublin, Ireland). The outlook assigned to these Credit Ratings (ratings) is stable.

The ratings reflect LLGR’s balance sheet strength, which AM Best categorizes as strongest, as well as its strong operating performance, very favorable business profile and appropriate enterprise risk management. LLGR’s ratings benefit from the support of its parent, The Great-West Life Assurance Company.

LLGR operates as a reinsurer owned by Great-West Lifeco, Inc. (Lifeco). In December 2018, Canada Life International Re Designated Activity Company (Dublin, Ireland) transferred its reinsurance business to LLGR via portfolio transfer. LLGR has a composite license that enables it to write life and non-life business with new business supported by a substantial balance sheet. The ratings reflect AM Best’s view of the strategic importance of the reinsurance entities to Lifeco’s current and future operations, as it continues to contribute a greater portion of the company’s overall earnings.

AM Best also has withdrawn the ratings of Canada Life International Re Designated Activity Company, and a final rating has not been completed as the insurance liabilities of this entity has been merged into LLGR.

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 web page. For additional information regarding the use and limitations of Credit Rating opinions, please view . For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view .

AM Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit for more information.

Copyright © 2019 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190110005669/en/

CONTACT: Edward Kohlberg

Director

+1 908 439 2200, ext. 5664

edward.kohlberg@ambest.comKen Johnson, CFA, CAIA, FRM

Senior Director

+1 908 439 2200, ext. 5056

ken.johnson@ambest.comChristopher Sharkey

Manager, Public Relations

+1 908 439 2200, ext. 5159

christopher.sharkey@ambest.comJim Peavy

Director, Public Relations

+1 908 439 2200, ext. 5644

james.peavy@ambest.com

KEYWORD: UNITED STATES EUROPE NORTH AMERICA NEW JERSEY

INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE INSURANCE

SOURCE: AM Best

Copyright Business Wire 2019.

PUB: 01/10/2019 02:28 PM/DISC: 01/10/2019 02:27 PM

http://www.businesswire.com/news/home/20190110005669/en

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