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FOR IMMEDIATE RELEASE
OLDWICK - OCTOBER 01, 2019 03:20 PM (EDT)
AM Best has commented that the Credit Ratings (ratings) of Puritan Life Insurance Company of America (PLICA) (Tempe, AZ) remain unchanged following the completed acquisition of PLICA’s parent company, Puritan Life Insurance Company (PLIC), by PLAZ Holdings LLC, a subsidiary of Calton Holdings, LLC.
AM Best notes that there were no immediate impacts from the acquisition on PLICA’s balance sheet strength, operating performance, business profile or enterprise risk management. AM Best will continue to monitor the execution of the business strategy under the new parent and assess any impact on the ratings going forward.
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 Understanding 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.
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