AM Best Comments on Credit Ratings of Canadian Premier Life Insurance Company Following Announced Transaction With Sun Life Assurance Company of Canada

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has commented that the Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Rating of “a” (Excellent) of Canadian Premier Life Insurance Company (Canadian Premier) (Toronto, ON), a subsidiary of Securian Financial Group, Inc. (Securian), remain unchanged following the announcement of a definitive agreement to purchase Sun Life Assurance Company of Canada’s association, affinity and group creditor businesses in Canada.

The affected blocks of business consist of approximately 100 member organizations along with 1.5 million customers. The acquisition is expected to add scale to Canadian Premier’s balance sheet, which continues to be supported by its parent organization, Securian. AM Best notes that this acquisition continues to support Securian’s strategic goal to grow its business in the Canadian market via mergers and acquisitions, as this is Securian’s fourth Canadian acquisition since 2017.

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