AM Best Maintains Under Review With Negative Implications Status for Credit Ratings of LIA Holdings Limited and Its Rated Subsidiaries

LONDON--(BUSINESS WIRE)--AM Best has maintained the under review with negative implications status for the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” (Excellent) of Lombard International Life Assurance Company (Philadelphia, PA), Lombard International Life Assurance Company of New York (New York, NY), Lombard International Assurance S.A. (LIA SA) (Luxembourg), Lombard International Life Assurance Company (Bermuda) Ltd. (Bermuda) and Lombard International Life Ltd. (Bermuda). Concurrently, AM Best has maintained the under review with negative implications status for the Long-Term ICR of “bbb-” (Good) of LIA Holdings Limited (United Kingdom), a non-operating holding company.

The under review with negative implications status reflects the ongoing uncertainty as to the potential impact on LIA Holdings Limited’s balance sheet strength of a review by the Italian tax authorities into the Italian business written by LIA SA. AM Best will continue to monitor LIA Holdings Limited’s credit fundamentals, notably to assess the impact of the tax liability and any penalty associated with the ongoing investigation.

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