Latest news with #GhislainLeCam
Yahoo
03-06-2025
- Business
- Yahoo
Best's Market Segment Report: AM Best Maintains Stable Outlook on UK Life Insurance Segment
LONDON, June 03, 2025--(BUSINESS WIRE)--AM Best has maintained its stable market segment outlook on the United Kingdom's life insurance segment. In its new Best's Market Segment Report, "Market Segment Outlook: UK Life Insurance," AM Best cites the strong pipeline for pension risk transfers (PRTs), as higher interest rates support attractive pricing to defined benefit scheme sponsors. The PRT market generated more than GBP 50 billion of premium in 2024, and AM Best expects the volume of transactions in 2025 to be close to that figure. The report also notes that although there is an expectation for further cuts in interest rates, current levels still will support solid investment returns for U.K. life insurers and reduce their reliance on illiquid assets to generate earnings. AM Best also expects regulatory scrutiny to remain focussed on funded reinsurance, which will require attention from life insurance companies. To access a complimentary copy of this special report, please visit AM Best is a global credit rating agency, news publisher and data analytics provider specialising 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 Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Stanislav Stoev, ACCA, CFA Senior Financial Analyst +44 20 7397 0306 Ghislain Le Cam, CFA, FRMSenior Director, Analytics+44 20 7397 Richard Banks Director, Industry Research – EMEA +44 20 7397 0322 Edem Kuenyehia Director, Market Development & Communications +44 20 7397 0280
Associated Press
14-02-2025
- Business
- Associated Press
AM Best Places Credit Ratings of Banner Life Insurance Company and William Penn Life Insurance Company of New York Under Review With Developing Implications
AM Best has placed under review with developing implications the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of 'aa-' (Superior) of Banner Life Insurance Company (BLIC) (Frederick, MD) and William Penn Life Insurance Company of New York (William Penn-NY) (New York). On Feb. 7, 2025, Legal & General Group Plc (L&G) agreed to the sale of its U.S. protection business to Meiji Yasuda Life Insurance Company (Meiji) and to establish a strategic partnership with Meiji to grow the U.S. pension risk transfer (PRT) business with Meiji taking a 20% interest in L&G's U.S. PRT business, for a value of $2.3 billion. The deal is expected to close prior to year-end 2025 and includes rated subsidiaries, BLIC and William Penn-NY. These two subsidiaries primarily offer term life insurance and complete PRT transactions. The announcement of the transaction included the formation of a strategic partnership between L&G and Meiji. In this partnership, L&G will retain 80% of new and existing U.S. PRT business through reinsurance agreements and serve in an asset managerial role. The transaction and partnership are expected to help grow Meiji's presence in the U.S. life insurance space, as part of a broader international growth strategy. The role of BLIC and William Penn-NY within the Meiji organization will develop as the deal progresses and completes. The pending transaction and level of strategic importance to Meiji will be monitored and assessed in the months to come by AM Best. 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. Financial Analyst +1 908 882 2077 Jessica Botelho-Young Director, Analytics +44 20 7397 0310 [email protected] Ghislain Le Cam Senior Director, Analytics +44 20 7397 0268 [email protected] Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 [email protected] Al Slavin Senior Public Relations Specialist +1 908 882 2318 [email protected] SOURCE: AM Best Copyright Business Wire 2025. PUB: 02/14/2025 01:36 PM/DISC: 02/14/2025 01:36 PM
