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FOR IMMEDIATE RELEASE
OLDWICK - APRIL 08, 2022 12:51 PM (EDT)
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 Aetna Insurance Company Limited (AICL) (UK).
These Credit Rating (rating) actions follow the announcement made by Aetna International on 25 March 2022, of an Asset Purchase Agreement with AWP Health & Life S.A. Under the terms of the agreement, AICL will introduce its existing customers to AWP Health & Life S.A. at renewal.
The ratings will remain under review with developing implications until the completion of certain legal processes in relevant jurisdictions. In addition, AM Best will perform assessment of AICL’s planned capital position as the business is being transitioned, as well as the level of committed support from the Aetna organisation.
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 specialising 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.