OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best has placed under review with developing implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Lincoln Benefit Life Company (Lincoln Benefit) (Lincoln, NE).
The Credit Rating (rating) actions follow the announcement on Oct. 2, 2017, that Lincoln Benefit’s ultimate parent, Resolution Life, L.P., has entered into a definitive agreement to sell Lincoln Benefit to a Global Bankers Insurance Group (GBIG) affiliate. The developing implications reflect the need for A.M. Best to evaluate GBIG’s finalized plans to integrate Lincoln Benefit into existing insurance operations, as well as ensure that risk-adjusted capitalization is maintained at levels in line with its current ratings, and the overall potential impact on the company’s fundamentals.
The transaction is expected to close in the first quarter of 2018, pending regulatory approval and customary closing conditions. The ratings of Lincoln Benefit will remain under review until the close of the transaction, and until A.M. Best completes its analysis of the transaction.
This press release relates to Credit Ratings that have been published on A.M. 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 A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and A.M. Best Rating Action Press Releases.
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