OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Financial Strength Rating of A+ (Superior) and a Long-Term Issuer Credit Rating of “aa” to London Life International Reinsurance Corporation (LLIRC) (Barbados). The outlook assigned to the Credit Ratings (ratings) is stable. LLIRC is rated as part of the group rating for The Canada Life Assurance Company (Canada Life), and thus, has been assigned the same ratings.
The ratings of LLIRC, 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.
LLIRC was incorporated in 1989 and is a member of the Great-West Lifeco Inc. group of companies; its direct parent is Canada Life, a leading Canada-based life insurer. LLIRC’s ratings primarily reflect the support received from Canada Life. The company is a composite reinsurer licensed to write life reinsurance, as well as annuity and property/casualty reinsurance business. However, LLIRC currently writes just U.S. business, almost exclusively with U.S. affiliates.
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