Best’s News & Research Service - October 11, 2023 03:07 PM (EDT)
AM Best Places Credit Ratings of Merit Life Insurance Co. Under Review With Developing Implications
- October 11, 2023 03:07 PM (EDT)
Oldwick //BestWire// - AM Best has placed under review with developing implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Merit Life Insurance Co. (Merit) (Charlotte, NC).
The Credit Ratings (ratings) have been placed under review with developing implications following the announcement by Merit’s parent, Brickell Insurance Holdings (Brickell) on Sept. 29, 2023, that it has entered into a definitive agreement to sell Merit to a private investor group.
The ratings are expected to remain under review until the transaction closes and AM Best has completed its evaluation of the impact of the new ownership structure on Merit’s credit rating fundamentals.
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, Best’s Performance Assessments, Best’s Preliminary Credit Assessments 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.