A.M. Best Places Ratings of CIGNA Life Insurance Company of Europe S.A. – N.V. under Review with Positive Implications

LONDON--(BUSINESS WIRE)--A.M. Best Co. has placed the financial strength rating of B++ (Good) and issuer credit rating of “bbb+” of CIGNA Life Insurance Company of Europe S.A. – N.V. (CLICE) (Belgium) under review with positive implications.

The rating actions follow the acquisition of Vanbreda International NV by the CIGNA group. Although the acquired company will be held as a sister company to CLICE rather than a direct subsidiary, it is likely to have a positive impact on business volumes over the medium term.

The ratings of CLICE will remain under review until A.M. Best has assessed the potential impact of the acquisition in terms of the company’s business profile, prospective risk-adjusted capitalisation, operating performance and parental support.

The principal methodology used in determining these ratings is Best’s Credit Rating Methodology -- Global Life and Non-Life Insurance Edition, which provides a comprehensive explanation of A.M. Best’s rating process and highlights the different rating criteria employed. Additional key criteria utilized include “Understanding Universal BCAR” and “Rating Members of Insurance Groups”. Methodologies can be found at www.ambest.com/ratings/methodology.

Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.