OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Financial Strength Rating (FSR) of A+ (Superior) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “aa” to London Life and Casualty Reinsurance Corporation (LLCRC) (Barbados). LLCRC is rated as part of the group Credit Rating (rating) for The Canada Life Assurance Company (Canada Life) and has thus been assigned the same ratings. The outlook assigned to LLCRC’s ratings is stable.
The ratings of LLCRC (through the company’s affiliation with Canada Life) reflect a balance sheet strength that AM Best categorizes as strongest, as well as its strong operating performance, very favorable business profile and appropriate enterprise risk management.
LLCRC was initially incorporated under the laws of Barbados in 1989 and was further reorganized under its Certificate of Amendment in 2004. LLCRC is a member of the Great-West Lifeco, Inc. group of companies; its direct parent is Canada Life, a leading Canadian life insurer. LLCRC’s ratings primarily reflect the support from Canada Life and LLCRC’s strategic role as Canada Life’s offshore underwriting and marketing arm for life, accident and health, annuity and property and casualty reinsurance business through its subsidiaries with clients based primarily in the United States, United Kingdom and continental Europe.
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