AM Best Places Credit Ratings of ShelterPoint Insurance Company and ShelterPoint Life Insurance Company Under Review With Positive Implications

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OLDWICK, N.J.--(BUSINESS WIRE)-- AM Best has placed under review with positive implications the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ...

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These companies are collectively referred to as ShelterPoint Life.This Credit Rating  action follows the announcement that Protective Life Corporation , a U.S. subsidiary of Dai-ichi Life Holdings, Inc. [TSE: 8750] and its primary life insurance subsidiary, Protective Life Insurance Company, entered into an agreement to acquire ShelterPoint Group, Inc., the holding company of ShelterPoint Life. The under review with positive implications status reflects the expected benefits ShelterPoint Life will receive from joining Protective Life and the greater financial strength of the organization.The transaction is expected to close in late 2024. The ratings will likely remain under review pending completion of the acquisition, and until AM Best can complete its assessment","collect":0,"end_time":0,"defaultTopTitle":"streetinsider.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4141":"半导体产品","AM":"Antero Midstream Corporation","BK4555":"新能源车","SPI":"阳光动力","BK4099":"汽车制造商","BK4144":"石油与天然气的储存和运输","FSR":"菲斯克"},"translate_title":"对ShelterPoint保险公司和ShelterPoint人寿保险公司的最佳信用评级进行审查，并产生积极影响","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AM":1,"FSR":1,"SPI":1},"content_text":"OLDWICK, N.J.--(BUSINESS WIRE)--\nAM Best has placed under review with positive implications the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a-” (Excellent) of ShelterPoint Insurance Company (SPI) (West Palm Beach, FL) and ShelterPoint Life Insurance Company (SPL) (Garden City, NY). These companies are collectively referred to as ShelterPoint Life.\n\nThis Credit Rating (rating) action follows the announcement that Protective Life Corporation (Protective Life), a U.S. subsidiary of Dai-ichi Life Holdings, Inc. [TSE: 8750] and its primary life insurance subsidiary, Protective Life Insurance Company, entered into an agreement to acquire ShelterPoint Group, Inc., the holding company of ShelterPoint Life. The under review with positive implications status reflects the expected benefits ShelterPoint Life will receive from joining Protective Life and the greater financial strength of the organization.\n\nThe transaction is expected to close in late 2024. The ratings will likely remain under review pending completion of the acquisition, and until AM Best can complete its assessment of ShelterPoint Life’s post-acquisition rating fundamentals.\n\nThis 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.\n\nAM 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.\n\nCopyright © 2024 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.\nView source version on businesswire.com: https://www.businesswire.com/news/home/20240412553019/en/\n\nBrent DeAngelis\nFinancial Analyst\n+1 908 882 1646\n[email protected]\n\nChristopher Sharkey\nAssociate Director, Public Relations\n+1 908 882 2310\n[email protected]\n\nJacqalene Lentz\nDirector\n+1 908 882 2011\n[email protected]\n\nAl Slavin\nSenior Public Relations Specialist\n+1 908 882 2318\n[email protected]\n\nSource: AM Best","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2426735843"}