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FOR IMMEDIATE RELEASE
OLDWICK - JULY 10, 2026 10:01 AM (EDT)
AM Best has assigned a Preliminary Credit Assessment (PCA) to Triangle Life Insurance Co Ltd. (Triangle Life) (Hamilton, Bermuda) with a Financial Strength Assessment of A- pca (Excellent) and a Long-Term Issuer Credit Assessment of “a-” pca (Excellent). The outlook assigned to this PCA is stable.
The PCA reflects Triangle Life’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM).
Triangle Life is a life insurer domiciled in Bermuda, which provides protection products to high-net-worth (HNW) individuals, globally. The very strong balance sheet assessment is underpinned by AM Best’s expectation that Triangle Life will maintain risk-adjusted capitalization comfortably in excess of the minimum required for the strongest assessment, as measured by Best’s Capital Adequacy Ratio (BCAR), over the five-year business plan period, established by capital raised to support the growth of its business. Based on current projections, AM Best also expects the company to report significant surplus levels over local solvency requirements. AM Best also notes Triangle Life’s dependence on reinsurance in the early stages of its business plan. However, the program, as currently structured, is deemed appropriate and is placed with reinsurance partners of excellent credit quality, which partially mitigates the associated risks.
Triangle Life’s adequate operating performance assessment is based on its well-defined business plan, expected favorable underwriting and product features designed to reduce product risk. Operating losses are expected early.
Triangle Life’s business profile benefits from the anticipated opportunity in the HNW life insurance industry. Execution risks, and in particular risks relating to market acceptance for a new entrant, are considered high, although they should be partially mitigated by the experience and track record of the management team. The company’s digital offering, and absence of legacy systems, is expected to be a source of competitive advantage.
Triangle Life has implemented risk management and governance arrangements that are appropriate for its current stage of development and risk profile, while maintaining commitment to the progressive enhancement to its risk management and governance as the scale, complexity and nature of the business evolves. AM Best expects ERM capabilities to remain commensurate with the company’s risk profile over time.
This press release relates to Preliminary Credit Assessments that have been published on AM Best’s website. For all assessment information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual assessments 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 and Assessment 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.