OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has placed under review with developing implications the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” of LifeShield National Insurance Co. (LifeShield National) (Oklahoma City, OK).
The Credit Ratings (rating) actions reflect LifeShield National’s recent announcement of its intent to acquire Individual Assurance Company, Life, Health & Accident (IAC). In its announcement, LifeShield National indicated that it would purchase 100% of the ownership interests of IAC for cash. The transaction is expected to close early in the second or third quarter of 2019. The ratings, which were last updated in May 2018, will remain under review pending upcoming discussions with LifeShield National’s management, including analysis of proforma projections of capital and earnings, for an assessment of the potential impact on the company’s current ratings.
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