A.M. Best Assigns Credit Ratings to Brookfield Annuity Company
07 Agosto 2018 - 5:27PM
Business Wire
A.M. Best has assigned a Financial Strength Rating of B++
(Good) and a Long-Term Issuer Credit Rating of “bbb+” to
Brookfield Annuity Company (Toronto, Ontario, Canada).
Brookfield Annuity Company is a wholly owned subsidiary of
Brookfield Asset Management Inc. [TSX: BAM.A; NYSE: BAM]. The
outlook assigned to these Credit Ratings (ratings) is stable.
The ratings reflect Brookfield Annuity Company’s balance sheet
strength, which A.M. Best categorizes as very strong, as well as
its marginal operating performance, limited business profile and
appropriate enterprise risk management.
The balance sheet strength is assessed on the company’s
five-year business plan with a very high level of capital injected
into the business at startup by the parent company. The company is
a monoline carrier in the pension risk transfer market in Canada.
Brookfield Annuity Company achieved a greater than 5% market share
in its first year of operations. The company expects to continue
increasing sales as they establish themselves as a significant
player in the pension risk transfer market. Since Brookfield
Annuity Company is a newly formed company, assessments with regard
to operating performance or business profile could provide rating
enhancement once A.M. Best assesses the business plan
post-execution.
This press release relates to Credit Ratings that have been
published on A.M. 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 A.M.
Best’s Recent Rating Activity web page. For
additional information regarding the use and limitations of Credit
Rating opinions, please view Understanding Best’s Credit
Ratings. For information on the proper media use of Best’s
Credit Ratings and A.M. Best press releases, please view
Guide for Media - Proper Use of Best’s Credit Ratings and A.M.
Best Rating Action Press Releases.
A.M. Best is a global rating agency and information provider
with a unique focus on the insurance industry. Visit
www.ambest.com for more information.
Copyright © 2018 by A.M. Best Rating
Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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version on businesswire.com: https://www.businesswire.com/news/home/20180807005924/en/
A.M. BestBruno Caron, +1 908 439 2200, ext.
5144Financial
Analystbruno.caron@ambest.comorAnthony
McSwieney, +1 908 439 2200, ext. 5715Senior Financial
Analystanthony.mcswieney@ambest.comorChristopher
Sharkey, +1 908 439 2200, ext. 5159Manager, Public
Relationschristopher.sharkey@ambest.comorJim Peavy,
+1 908 439 2200, ext. 5644Director, Public
Relationsjames.peavy@ambest.com
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