A.M. Best Comments on Credit Ratings of Gerber Life Insurance Company Following Strategic Announcement

OLDWICK, N.J.--()--A.M. Best has commented that the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of Gerber Life Insurance Company (Gerber Life) (White Plains, NY) remain unchanged following an announcement regarding its potential sale made during the Nestlé, S.A. (Nestlé) (Switzerland) [Swiss: NESN] earnings call on Feb. 15, 2018. The outlooks of these Credit Ratings remain stable.

Gerber Life is a wholly owned subsidiary of Nestlé Insurance Holdings, Inc, which is a unit of Nestlé, a food and beverage conglomerate with operations in almost every country around the world.

This comment follows Nestlé’s disclosure during its 4th quarter 2017 public earnings call that the organization is exploring strategic options, including the potential sale of Gerber Life. The company’s ratings were affirmed on May 16, 2017 and currently consider the financial strength of its ultimate parent, Nestlé. A.M. Best intends to further discuss the potential of a sale with Gerber Life management, including the impact on the company’s ratings if a divestiture is announced.

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.

A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

A.M. Best
Louis Silvers, +1-908-439-2200, ext. 5802
Senior Financial Analyst
louis.silvers@ambest.com
or
Kate Stefanelli, +1-908-439-2200, ext. 5063
Senior Financial Analyst
kate.stefanelli@ambest.com
or
Christopher Sharkey, +1-908-439-2200, ext. 5159
Manager, Public Relations
christopher.sharkey@ambest.com
or
Jim Peavy, +1-908-439-2200, ext. 5644
Director, Public Relations
james.peavy@ambest.com

Contacts

A.M. Best
Louis Silvers, +1-908-439-2200, ext. 5802
Senior Financial Analyst
louis.silvers@ambest.com
or
Kate Stefanelli, +1-908-439-2200, ext. 5063
Senior Financial Analyst
kate.stefanelli@ambest.com
or
Christopher Sharkey, +1-908-439-2200, ext. 5159
Manager, Public Relations
christopher.sharkey@ambest.com
or
Jim Peavy, +1-908-439-2200, ext. 5644
Director, Public Relations
james.peavy@ambest.com