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 Rating of “a” (Excellent) of
These Credit Ratings (ratings) were placed under review with negative implications on
The ratings have been maintained under review with negative implications following a revision to the expected timeframe for completion of the transaction. Whilst remaining subject to customary closing conditions, including regulatory and other approvals, the transaction is now expected to complete in the second half of calendar year 2022.
The under review with negative implications status reflects the need for AM Best to assess the impact of the planned acquisition on BNZ Life’s credit fundamentals, including any potential rating drag that could arise from its change in ownership. In addition, AM Best will need to consider the planned integration of BNZ Life within the Partners Life group, any expected changes in strategy and any implicit or explicit support to be provided by the new parent. The ratings will remain under review pending completion of the transaction and until AM Best can complete its assessment of BNZ Life’s post-acquisition credit rating fundamentals.
For the fiscal year ended
Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.
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