Best’s News & Research Service - July 31, 2020 01:29 PM (EDT)
AM Best Assigns Issuer Credit Rating to LRG (US), Inc.
- July 31, 2020 01:29 PM (EDT)
Oldwick //BestWire// - AM Best has assigned a Long-Term Issuer Credit Rating of “a” to LRG (US), Inc. (Delaware). The outlook assigned to this Credit Rating (rating) is stable. LRG (US), Inc. is the intermediate holding company of London Life International Reinsurance Corporation (LLIRC) and Canada Life Reinsurance Company (CLRC), which are members of the The Canada Life Assurance Company rating unit.
LRG (US), Inc. and its subsidiaries are members of the Great-West Lifeco Inc. group of companies; their direct parent is Canada Life Assurance Company, a leading Canada-based life insurer. LLIRC and CLRC are composite reinsurers licensed to write life reinsurance, accident and health reinsurance, annuity reinsurance and property and casualty reinsurance business, but are utilized primarily for life reinsurance for affiliated entities. LRG (US), Inc. will be utilized to strengthen the capital position of LLIRC to support its business plans.
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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.