AM Best Places Credit Ratings of CL Life and Annuity Insurance Company Under Review With Developing Implications

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+” (Good) of CL Life and Annuity Insurance Company (CL Life) (Fort Worth, Texas).

CL Life’s Credit Ratings (ratings) have been placed under review with developing implications following the Sept. 4, 2025, announcement that Rithm Capital Corp. (Rithm), a global alternative asset manager, has entered into a definitive agreement to acquire Crestline Management, L.P. This acquisition should enhance Rithm’s long-term strategy of building a global, diversified asset management platform and meaningfully expands its capabilities in such areas as direct lending, as well as insurance and reinsurance.

The transaction is expected to close sometime in the fourth quarter of 2025 with CL Life’s senior management team and its strategy as a fixed annuity direct writer remaining in place. AM Best will continue to monitor this situation and provide updates as conditions warrant.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

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