AM Best Comments on Credit Ratings of Teachers Insurance and Annuity Association of America Following Agreement to Acquire Schroders, plc.
- February 18, 2026 01:42 PM (EST)
//BestWire// - AM Best has commented that the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Rating of “aaa” (Exceptional) of Teachers Insurance and Annuity Association of America (TIAA) remain unchanged following TIAA’s announcement that Nuveen, a TIAA Company, has entered into a cash acquisition of Schroders plc (Schroders).
Schroders is a leading provider in active asset management, advisory and wealth management services with $1.1 trillion in assets under management. Once the acquisition is completed, the combined Nuveen organization will become a top 10 global asset manager with almost $2.5 trillion in assets under management. It is anticipated that Schroders will continue to operate as a standalone business within the wider Nuveen group for at least 12 months following the completion of the transaction.
The transaction is expected to become effective and close during the fourth quarter of 2026. The transaction is also expected to increase leverage at TIAA due to purchase financing. In addition, the transaction will increase scale and diversification for the organization as it expands its less capital-intensive asset management business globally.
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 use of Best’s Credit Ratings (BCR), Best’s Performance Assessments (PA), Best’s Preliminary Credit Assessments (PCA) and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
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 London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.