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FOR IMMEDIATE RELEASE
OLDWICK - JUNE 25, 2020 02:54 PM (EDT)
AM Best has assigned a Financial Strength Rating of A+ (Superior) and a Long-Term Issuer Credit Rating of “aa” to London Life International Reinsurance Corporation (LLIRC) (Barbados). The outlook assigned to the Credit Ratings (ratings) is stable. LLIRC is rated as part of the group rating for The Canada Life Assurance Company (Canada Life), and thus, has been assigned the same ratings.
The ratings of LLIRC, 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.
LLIRC was incorporated in 1989 and is a member of the Great-West Lifeco Inc. group of companies; its direct parent is Canada Life, a leading Canada-based life insurer. LLIRC’s ratings primarily reflect the support received from Canada Life. The company is a composite reinsurer licensed to write life reinsurance, as well as annuity and property/casualty reinsurance business. However, LLIRC currently writes just U.S. business, almost exclusively with U.S. affiliates.
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.