AM Greatest downgrades credit score scores of Customary Life and Accident Insurance coverage Firm

AM Greatest, a world credit standing company, has downgraded Customary Life and Accident Insurance coverage Firm’s (SLAICO) monetary energy ranking to A- from A in addition to the long-term issuer credit standing to a- from a.

The company has additionally maintained the under-review standing of the credit score scores and revised the implications standing to growing, beforehand being unfavourable.

The actions by AM Greatest had been pushed by Core Specialty Insurance coverage Holdings, Inc. (Core Specialty) buying the agency because the downgrades mirrored the revision of SLAICO’s enterprise profile evaluation from favorable to restricted. The evaluation was consistent with Core Specialty since SLAICO now not advantages from the enterprise profile of its former father or mother.

With the finalized sale, AM Greatest decided that the corporate wanted additional monitoring earlier than eradicating its scores from below assessment. Due to this, the implication of the under-review standing of SLAICO was revised from unfavourable to growing.

The credit score scores are a mirrored image of the energy of SLAICO’s steadiness sheet in addition to its ample working efficiency, restricted enterprise profile, and acceptable enterprise danger administration.

What do you consider AM Greatest’s scores for SLAICO? Share your ideas within the feedback beneath.